21/09/2023 - Open call for tenders to assist EFRAG in developing a cost benefit analysis for LSME and VSME

EFRAG releases today its open call for tenders to assist in developing a cost benefit analysis for:

the Draft European Sustainability Reporting Standard for Listed SMEs, small non-complex credit institutions and captive insurance/re-insurances (LSME); and
the voluntary reporting standard for non-listed SMEs (VSME)

Download the components of this call for tenders:

Responses should be sent to call.for.tender@EFRAG.ORG no later than Friday 20 October 2023 COB.

The two separate cost-benefit analyses (LSME and VSME) will present data and evidence that can support EFRAG's conclusions on the ex-ante cost-benefit analysis of the:

1. LSME ESRS, covering separate cost-benefit analysis for:

listed SMEs;
small and non-complex credit institutions;
captive insurance and reinsurance undertakings; and
third –countries SMEs listed in EU regulated markets or listed SMEs that are subsidiaries of third-countries parent companies (both in scope of LSME ESRS).

2. The VSME reporting standard.

The purpose of cost-benefit analysis is to understand the impacts:

Of the LSME ESRS ED and of the final Draft LSME ESRS as submitted to the European Commission. This also includes understanding the cost-benefit balance deriving from the approach proposed by EFRAG to implement the value chain cap;
Of the VSME reporting standard ED and of the final VSME reporting standard as finally released.

The two analyses on LSME and VSME shall take into account the points of view of various stakeholders. Contractors are asked to assess the costs and benefits for a broad set of stakeholders including:

reporting entities
lenders, investors
rating agencies
data providers and other financial market participants
civil society organisations and society at large

The deadline to complete the draft deliverables is April 2024 and the final deliverables in October 2024.

EFRAG welcomes applications from consortiums or associations of tenders or might consider splitting the scope of work between different providers.

Download the following:

Tenders, which should include a completed and signed Information Form and all information specifically requested in the call for tenders, should be sent to EFRAG at call.for.tender@EFRAG.ORG no later than Friday 20 October 2023 COB. Tenders are advised to keep proof of the sending time.

In case of questions, you can reach out to Saskia Slomp, EFRAG CEO, saskia.slomp@efrag.org and Elisa Bevilacqua, EFRAG Senior Technical Manager, elisa.bevilacqua@efrag.org.