The ESMA has released a new Consultation Paper that outlines its latest proposals for integrating sustainability and financial disclosures into the ESEF.
This initiative is designed to streamline the process and reduce the burden of financial reporting, ensuring that investors can access, compare, and utilise data more effectively.
Central to ESMA’s strategy is the future integration of digitalised data into the European Single Access Point (ESAP), which will facilitate efficient data usage by investors, enhancing their ability to deploy data-driven investment strategies. The proposals set forth by ESMA include the phased implementation of marking up rules for sustainability reporting. This will occur in three stages, each spanning two years, aimed at a full adoption for Article 8 disclosures and a revised approach for the Notes to the IFRS consolidated financial statements.
Additionally, ESMA suggests amendments to the Regulatory Technical Standards on the European Electronic Access Point, which are expected to further optimise how financial and sustainability information is accessed and used across Europe.
Stakeholders, including listed and non-listed undertakings, large group parent undertakings, auditors, investors, and data analysts, are encouraged to provide their feedback by 31 March 2025. Following this consultation period, ESMA plans to review the inputs in Q2 2025, with a final report scheduled for release in Q3 2025. The findings will then be forwarded to the European Commission for endorsement.
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