EFRAG releases educational videos on the Voluntary Sustainability Reporting Standard for non-listed SMEs
The highlights and introduction to the VSME
This introductory video provides a glimpse into the objectives, due process, the outcomes of the public consultation, the final VSME structure and the main underlying principles of the standard
Presented By Chiara Del Prete (EFRAG SR TEG Chairwoman) and Elisa Bevilacqua (EFRAG Sustainability Reporting Senior Technical Manager).
A deep dive into the content of the Basic Module
Presented by Mathias Mingazzini (EFRAG Sustainability Reporting Junior Technical Manager).
A deep dive into the content of the Comprehensive Module along with an explanation of the future planned work for the VSME Ecosystem
Presented by Elisa Bevilacqua (EFRAG Sustainability Reporting Senior Technical Manager)
Whether you want a brief introduction to the draft standards or a longer explanation, take a dive into these videos featuring our experts!
Watch all the playlist on YouYube
Background
The VSME is designed for undertakings that are not in the mandatory scope of the Corporate Sustainability Reporting Directive ('CSRD'). EFRAG's work on the VSME is based on the European Commission's SME Relief Package of September 2023 which refers to this specific standard as a measure to support SMEs in accessing sustainable finance ("EFRAG will develop a voluntary standard for non-listed SMEs. SMEs can use this to standardise the sustainability information they wish to report, creating better opportunities to obtain green financing and thus facilitating the transition to a sustainable economy").
Based on market acceptance, the VSME has been designed to provide a standardised set of information to replace the current multiple and uncoordinated questionnaires and ESG data requests.
The VSME is structured under a Basic Module and a Comprehensive Module. These two modules are expected to fulfil a substantial part of requests from business partners (i.e. banks, investors and large corporates) that SMEs currently receive. The VSME includes disclosures for undertakings across sectors; a few additional data requests cannot be excluded to reflect the specificities of some sectors.