• At the event hosted on 5th October CSR Europe and selected stakeholders had the opportunity to give their feedback to the European Financial Reporting Advisory Group (EFRAG) for the draft voluntary standards for SMEs.

• To prepare for the requirements set by the CSRD and ESRS, companies can request CSR Europe’s EU Alignment service.

On the 5th of October 2023, CSR Europe and EFRAG hosted a Joint Workshop on the draft Voluntary Standards for SMEs (VSME) in alignment with ESRS. The online event was an opportunity for CSR Europe members to exchange views, opinions, and expertise to balance needs and expectations between large undertakings and SMEs, that are preparing and disclosing sustainability-related data and information.

The meeting provided all CSR Europe members with a presentation of EFRAG’s work in the development of the Voluntary Reporting Standards for SMEs (VSME). Corporate members and NPOs were invited to provide feedback and contribute to the development of the draft standards for SMEs beyond the scope of the EU CSRD, yet still aligned with the principles and the architecture of ESRS.

During the workshop, the participants had the chance to:

• Better understand and share feedback on the draft EFRAG VSME (Voluntary Sustainability Reporting Standards for SMEs)

• Make their voice heard through an ad hoc questionnaire regarding EFRAG’s proposal

• Receive first-hand information on the upcoming draft of the new standards

The event contributed to strengthen the collaboration between the CSR Europe network and the European institutions in the process aimed at finalising the upcoming VSMEs Standards.

Companies interested in getting ready to meet the requirements set by the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS) can request CSR Europe’s EU Alignment service.  

For more information:

Contact Lorena Sorrentino