The Summer of ESG

We aren’t half way though August yet and already the Summer of ’25 has been a hot one for corporate sustainability disclosures in the EU and UK.

On 31 July 2025, EFRAG launched its 60-day consultation on the Exposure Drafts of the revised and simplified European Sustainability Reporting Standards (“ESRS”) for those reporting under the Corporate Sustainability Reporting Directive (“CSRD”).  These can be found here, together with links to documents setting out the changes to the ESRS and commentary on the changes.

This was preceded by a “quick-fix” Delegated Act to postpone additional phased-in reporting requirements, also published with a summary of modifications. 

Meanwhile, in the UK, the Government has announced that it will no longer implement a “Green Taxonomy”, though the Government is now consulting on the exposure drafts of the UK versions of IFRS S1 and IFRS S2 – respectively called UK SRS S1 and UK SRS S2. The consultation is open until 17 September 2025, alongside a consultation on the development of an oversight regime for assurance of sustainability-related financial disclosures.

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