European Commission adopts revised ESRS and Voluntary Sustainability Reporting Standard: EFRAG welcomes adoption and publishes updated guidance for the Voluntary Standard

The European Commission adopted yesterday the revised European Sustainability Reporting Standards (ESRS) and the Voluntary Sustainability Reporting Standard (VS), now published in the Official Journal of the EU.

EFRAG welcomes the European Commission’s adoption of both standards, marking a significant step towards a more proportionate and practical sustainability reporting framework in Europe.

The ESRS & Voluntary Standard are available in an interactive format within the EFRAG Knowledge Hub, making it easier for users to navigate the legal texts and implementation materials. Minor amendments and corrections introduced in the Official Journal texts compared with the Delegated Acts published on 3 July 2026 will be reflected in a new version on the Knowledge Hub shortly.

More specifically, the adoption of the Voluntary Sustainability Reporting Standard represents an important step in supporting proportionate and practical sustainability reporting for undertakings with fewer than 1,000 employees, providing them with a voluntary framework to structure and communicate relevant sustainability information.

Based on the VSME Recommendation developed by EFRAG, the VS aims to help SMEs respond to sustainability information requests from larger companies, investors and financial institutions, while providing a proportionate approach to sustainability reporting.

Within the VS, the European Commission tasks EFRAG to update and maintain the guidance, previously part of the VSME Recommendation. Hence EFRAG is pleased to announce that it has updated the non-mandatory guidance and published it in English within the EFRAG ESRS Knowledge Hub. EFRAG is also engaging with National Standard Setters to translate the guidance in all European languages. The translations will be made available on the EFRAG Knowledge Hub from November 2026.

Also in November 2026, EFRAG will also release an updated Digital Template, reflecting the changes introduced by the Voluntary Standard and including additional features in the Excel to XBRL Converter to further enhance the customization of the Inline XBRL report.

Stay tuned: On 9 October 2026, EFRAG is organising an event with the participation of the European Commission to present the Voluntary Sustainability Reporting Standard (VS), explain the key changes introduced by the Omnibus, and discuss the practical shift from mandatory to voluntary sustainability reporting. Register now!