ECB staff view on the revised European Sustainability Reporting Standards (ESRS). European Central Bank.

ECB staff appreciate the simplification achieved by EFRAG. These revisions can be seen as improvements that will have practical consequences in the form of greater applicability of the standards and the consequent sustainability claims. At the same time, the rules should continue to ensure transparency for proper financial risk management and financial stability, and in this regard, ECB staff have identified three critical areas for improvement.