Tag: European Financial Reporting Advisory Group (EFRAG)

Currently, non-listed small and medium-sized enterprises (SMEs) in the EU are not required to report on their environmental, social, and governance (ESG) practices under the EU Green Deal directives like CSRD/EU Taxonomy/CSDDD. However, market realities are such that SME stakeholders, including investors, banks, and customers, are already imposing these reporting requirements.

The EC has adopted the European Sustainability Reporting Standards (ESRS), significantly expanding the scope of sustainability reporting.