ESMA releases public statement on ESRS supervision in light of EC Omnibus proposals
ESMA releases public statement on ESRS supervision in light of EC Omnibus proposals
ESMA releases a statement on the European Sustainability Reporting Standards (ESRS) supervision in the Omnibus environment. The public statement 'Navigating change together: ESRS supervision in the Omnibus environment' addresses the challenges and commitments related to the first application of the ESRS by large public-interest entities. The ESMA acknowledges the uncertainties caused by the simultaneous implementation of ESRS, uneven transposition of the CSRD, and the Omnibus legislative proposals. ESMA emphases its commitment, together with national competent authorities (NCAs), to promote transparent sustainability reporting and mitigate greenwashing risks. The statement highlights the need for a proportionate and realistic application of the Guidelines for Enforcement of Sustainability Information (GLESI) during the initial years of ESRS implementation, allowing NCAs to adapt their supervisory approaches. It also notes that some NCAs may face temporary non-compliance with GLESI due to national constraints but will continue to fulfil their supervisory obligations under national law, specifically in the year 2025, however NCAs will use comparable procedures in line with ESMA’s guidance on sustainability information. ESMA emphasises ongoing efforts to harmonise supervisory approaches through coordination and discussions within its Sustainability Reporting Working Group.
Access to the statement is available at the link.
Access to the statement is available at the link.