Post by Eurosif - The European Sustainable Investment Forum

📢𝗘𝗖 𝗽𝘂𝗯𝗹𝗶𝘀𝗵𝗲𝘀 𝘁𝗵𝗲 𝗱𝗿𝗮𝗳𝘁 𝗱𝗲𝗹𝗲𝗴𝗮𝘁𝗲𝗱 𝗮𝗰𝘁 𝗼𝗻 𝗿𝗲𝘃𝗶𝘀𝗲𝗱 𝗘𝗦𝗥𝗦 📄Yesterday, the European Commission (EC) published the draft delegated act on the revised European Sustainability Reporting Standards (#ESRS), which largely follows the advice developed by EFRAG in December 2025. 𝗞𝗲𝘆 𝗘𝘂𝗿𝗼𝗽𝗲𝗮𝗻 𝗖𝗼𝗺𝗺𝗶𝘀𝘀𝗶𝗼𝗻 𝗰𝗵𝗮𝗻𝗴𝗲𝘀 𝗰𝗼𝗺𝗽𝗮𝗿𝗲𝗱 𝘁𝗼 𝗘𝗙𝗥𝗔𝗚'𝘀 𝗮𝗱𝘃𝗶𝗰𝗲:  • Modification to the double materiality assessment and the need to consider specific geographical contexts when carrying out the materiality assessment.   • Further clarification on the application of the concept of “fair presentation” and reporting on anticipated financial effects.   • Adjustments to key data points include climate transition plans, GHG emissions, microplastics, substance of very high concern, pollutants, human rights.    • Exemption for financial institutions from reporting on their assets under management. ✅ 𝗘𝘂𝗿𝗼𝘀𝗶𝗳'𝘀 𝗽𝗿𝗲𝗹𝗶𝗺𝗶𝗻𝗮𝗿𝘆 𝗮𝘀𝘀𝗲𝘀𝘀𝗺𝗲𝗻𝘁: while we are still reviewing the changes to double materiality, we welcome the retention of reporting on quantitative and qualitative anticipated financial effects and the “fair presentation” principle. It is also positive to see no major additional data point cuts beyond EFRAG’s advice. ⚠️𝗛𝗼𝘄𝗲𝘃𝗲𝗿, we regret changes to the granularity of some key data points, that no additional safeguards were established for the extensive reliefs granted to companies, and the removal of reporting requirements for assets under management. 🔎 𝗦𝘁𝗮𝘆 𝘁𝘂𝗻𝗲𝗱 𝗳𝗼𝗿 𝗮 𝗺𝗼𝗿𝗲 𝗱𝗲𝘁𝗮𝗶𝗹𝗲𝗱 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝗶𝗻 𝘁𝗵𝗲 𝗰𝗼𝗺𝗶𝗻𝗴 𝗱𝗮𝘆𝘀. 📝 This draft is open to a four-week 𝗽𝘂𝗯𝗹𝗶𝗰 𝗳𝗲𝗲𝗱𝗯𝗮𝗰𝗸 𝗽𝗲𝗿𝗶𝗼𝗱, with a deadline on 3 June. 👉 Eurosif will respond, and calls on investors and other users of sustainable information to also make their voices heard: https://lnkd.in/dqG9mxEz 📅 𝗡𝗲𝘅𝘁 𝘀𝘁𝗲𝗽𝘀: 📍June 2026: expected adoption of the final ESRS delegated act by the EC. The European Parliament and EU member states have then two months to raise objections. If they do not, the Delegated Act will enter into force in Q3 2026.  📍Financial year starting on 1 January 2027: expected application of the revised ESRS, for first reports in 2028.