ASCG comments on the establishment of a European Single Access Point for company data

The ASCG considers a European Single Access Point (ESAP) to be of central importance. Currently, the European Commission is seeking input on this project in a public consultation. Feedback based on an online questionnaire is requested until 12 March. The legislative proposal is expected for the 3rd quarter of 2021.

The ASCG’s Administrative Board submitted a letter to the Commission, summarising the main issues, in particular

• to use national data sources as much as possible and to better integrate national data into the overall EU approach,
• not to introduce additional reporting requirements and to follow a “file only once” principle,
• to acknowledge the practical challenges and to take them into account through a staggered introduction of electronic reporting requirements.

According to the Board the Commission should start with the currently used formats and initiatives such as ESEF. Other information should only be filed electronically when there is a legal obligation to do so. With regard to the availability and accessibility of company related ESG data in ESAP, the Board acknowledges that there is a particular urgency due to the specific disclosure requirements of the financial sector. In this context, a pragmatic approach to the timely provision of such ESG data in ESAP should be at the heart of the European Commission’s considerations.

The ASCG’s responses to selected aspects of the consultation questionnaire can be obtained here.