EFRAG Honoured at ISAR 2025 Ceremony in Geneva for its VSME Sustainability Reporting Initiative
This week in Geneva, Switzerland, EFRAG was honoured at the ISAR Honours 2025 – International Category for its pioneering work on the Voluntary SME Sustainability Reporting Standard (VSME). The recognition highlights the VSME’s growing importance as a practical, scalable solution that enables small and medium-sized enterprises to participate meaningfully in the sustainability reporting landscape.
Developed specifically to address the needs of SMEs, the VSME provides a proportionate, easy-to-use framework that supports smaller businesses in disclosing ESG information and progressing on their green transition without disproportionate administrative burden. By offering a clear, structured, and flexible approach, the VSME helps SMEs join the green path, strengthening their environmental performance while meeting rising expectations from customers, banks, supply chains, and investors. It enables SMEs to build internal capacity at their own pace and take concrete steps toward more sustainable and climate-aligned operations.
The initiative promotes digitalisation through the use of XBRL and supports widespread adoption via open-source tools designed to lower cost and technical barriers. As a result, the VSME directly contributes to reducing fragmentation, closing data gaps, and improving the availability of consistent, decision-useful ESG information across value chains.
EFRAG welcomed the award with appreciation:
“EFRAG is very happy to have received a prize at the ISAR Honours 2025 – International Category, for its initiative of the VSME, and thanks the ISAR community for this acknowledgement.”
Watch now the message from Patrick de Cambourg, EFRAG SRB Chair.
This year’s ceremony also celebrated other notable contributors to global sustainability reporting, including the IFRS Foundation, that EFRAG also congratulates for their contribution to the reporting sector. Together, these initiatives illustrate the accelerating momentum behind high-quality, interoperable sustainability reporting worldwide.
This recognition highlights the growing relevance of the VSME as a key enabler for SMEs, helping them strengthen transparency, unlock market opportunities, and contribute to a more sustainable economy. EFRAG is proud to receive this recognition from this community of international accounting and reporting professionals.
