Commission seeks feedback on revised ESRS with 60% reduction in mandatory datapoints

The European Commission has opened a public consultation seeking feedback on draft revised European Sustainability Reporting Standards (ESRS). The revised standards reduce mandatory datapoints by over 60% (from approximately 1,100 to 430) and total datapoints by over 70%. Key changes include simplified materiality assessment requirements, new flexibilities for companies, and clearer, shorter standards. The Commission expects over 30% reduction in reporting costs per company. Public feedback is open until 3 June 2026.