European Commission Publishes Delegated Acts for Revised ESRSs and Voluntary Sustainability Reporting Standard

On July 3, 2026, the European Commission (EC) finalized two delegated acts that revise the European Sustainability Reporting Standards (ESRSs) and establish the voluntary reporting standard. Before being finalized, the draft delegated acts were published for public comment in May 2026 (the comment period for both ended on June 3, 2026). The finalized delegated acts are largely consistent with the draft delegated acts.

The delegated acts have been submitted to the European Parliament and the Council of the European Union (EU) for a scrutiny period. Both institutions have two months to reject the delegated acts, and this period can be extended by another two months if necessary. If not rejected, the delegated acts will be published in the Official Journal of the EU and will enter into force three days after publication.

The revised ESRSs would be effective for financial years beginning on or after January 1, 2027. However, entities subject to sustainability reporting requirements for financial year 2026 would have the option of applying the revised ESRSs to their reporting for financial year 2026. The voluntary standard would apply beginning in financial year 2027 for the value chain reporting of entities within the scope of the Corporate Sustainability Reporting Directive (CSRD), irrespective of the option to apply the revised ESRSs for financial year 2026 on a voluntary basis. For entities not within the scope of the CSRD that wish to report on a voluntary basis, the new standard will become effective on the date the directive is entered into force.

For more information, see the press release on the EC’s Web site.