EFRAG adopts work plan to simplify ESRS Set 1

After a first draft of the work plan to simplify ESRS Set 1 was not approved by the EFRAG Sustainable Standards Board (SRB) before the Easter holidays, the SRB adopted a final version on 25 April 2025.

The work plan provides for the preparation of exposure drafts for the simplification of ESRS Set 1 by the end of July. This will be followed by a public consultation on the drafts with a feedback period of 45 days, i.e. from the end of July to the beginning of September 2025. Outreach events on the drafts are scheduled to take place from the end of August to the beginning of September 2025. The simplifications must be finalised and submitted to the EU Commission as technical advice by the end of October 2025.

The work plan is divided into two phases and five stages:

Phase 1

1. Defining a vision for EFRAG on simplifying ESRS Set 1
2. Obtaining stakeholder input (interviews, workshops, public calls), analysis of sustainability reports
3. Preparation and adoption of consultation drafts

Phase 2

4. Publication of exposure drafts and collection of stakeholder feedback (including additional outreach events)
5. Finalisation of technical recommendations for simplifying ESRS Set 1 and submission to the EU Commission

Background:

In its omnibus proposals issued on 26 February 2025, the EU Commission announced its intention to adopt a delegated act to simplify ESRS Set 1. In a letter dated 27 March 2025, EU Commissioner Albuquerque mandated EFRAG to develop technical recommendations for simplifying ESRS Set 1. The deadline for submission is 31 October 2025. The letter also requests that a timetable and work plan be submitted by 15 April 2025. EFRAG responded to this request with a slight delay following the SRB decision on 25 April 2025.