EFAA for SMEs has submitted its feedback to EFRAG’s public consultation on the Amended European Sustainability Reporting Standards (ESRS). In the framework of the simplification exercise performed by EFRAG with the mandate from the European Commission, the consultation seeks stakeholder input on whether the proposed amendments achieve the intended simplification.
In its response, EFAA welcomed the overall simplification efforts and the clarifications introduced to the Double Materiality Assessment (DMA), while stressing the importance of maintaining proportionality for SMEs. EFAA for SMEs recognises and supports the importance of reporting for sustainability purposes but will continue to advocate for this to be done in a way which does not distract SMEs from the vital roles they play throughout Europe in wealth and job creation.
Read the full response here.