EFRAG has published the findings of its study on the current level of awareness and the implementation of the voluntary sustainability reporting standard for SMEs (VSME).
Out of 282 survey respondents, 95% said they are aware of the European Commission’s recommendation on the VSME.
Amongst the 115 preparers that responded to the survey 43% have fully applied the standard, while 23% have partially applied it. However, only a quarter of the preparers have published a VSME report so far.
Of those that have applied the standard, roughly half said it took between one and three weeks to gather the data and report under the VSME.
The most cited challenges in applying the standard are the lack of awareness, the lack of training, the limited availability of digital tools, and the complexity of the disclosures.
Based on the results, EFRAG will consider developing further practical guidance on specific disclosures within the VSME, continue its work on the VSME Digital Template and digital tools, and collate examples of best practice reporting under the VSME.
It plans to reassess the adoption of the standard via a second survey in 2026.
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Companies:EFRAG
