Sustainability
Decarbonization, circular economy, and supply chain due diligence
EFRAG: SME ESRS consultation
In July 2026, EFRAG opened a public consultation on sustainability-disclosure standards for SMEs. The pillars are VSME, a voluntary standard for companies outside CSRD, and LSME for listed SMEs, effective from January 2026 with a two-year relief period. The standards aim to reduce the burden on mid-sized and small suppliers receiving Scope 3 demands from larger companies through a common format.
EU adopts revised ESRS
The European Commission adopted revised ESRS in July 2026, cutting mandatory data points by more than 60% and expected reporting costs per company by over 30%. It also introduced a voluntary standard for SMEs outside the CSRD scope, reflecting EFRAG technical advice and stakeholder input.
NBIM Urges One Report for ESRS and ISSB
NBIM, the manager of Norway's $2 trillion sovereign wealth fund, has asked the EU to allow companies to meet ESRS and ISSB, including IFRS S1/S2, in one report. ISSB has been adopted in 42 jurisdictions covering about 60% of global GDP.
New Zealand: Mandatory Climate Disclosure via NZ CS 1
An overview of the entities subject to the Aotearoa New Zealand Climate Standards developed by the XRB, and the three-scenario analysis requirements under NZ CS 1. Examines the framework's design characteristics in comparison with the EU CSRD and IFRS S2.
Double Materiality Assessment: CSRD IRO Implementation
The first wave of CSRD started ESRS reporting in FY2024, while the second and third waves are subject to the April 2025 postponement. Considering the December 2025 Omnibus I, we break down IRO identification and IMA/FMA determination into practical procedures.
CSRD & CSDDD 2026: Scope, Supply-Chain Duties & Actions
CSRD and CSDDD 2026: revised scope after Omnibus I, cascading supply-chain duties, and practical steps to comply.
ESRS 2.0: Public Consultation Opens on Simplified Draft
The European Commission opened consultation on ESRS 2.0, a simplified CSRD standards draft with implications for EU supply chain reporting.
CSRD/CSDDD: EU Customer Compliance
CSRD and CSDDD can reach suppliers through EU customer questionnaires, contract clauses, and disclosure requests. This article maps priority actions.