Voluntary reporting standard for SMEs (VSME)

EFRAG has been tasked by the European Commission to develop a voluntary sustainability reporting standard for non-listed micro, small and medium enterprises (VSME).

It stems from the market need to have a simple reporting tool to be used by SMEs to face growing sustainability data requests from business counterparties (i.e. banks, investors or larger companies for which non-listed SMEs are suppliers) in an efficient and proportionate manner.