meta_id 3287478

On July 1, 2026, the European Securities and Markets Authority (ESMA) launched a consultation on technical advice to the European Commission (EC) regarding selected key performance indicators (KPIs) under the Taxonomy Disclosures Delegated Act. The consultation focuses on simplification and reduction of reporting burdens for market participants, building on recent simplification efforts under the Commission's Omnibus package and supporting the broader review of Taxonomy reporting. ESMA proposes several simplifications to the Taxonomy disclosure framework for non-financial undertakings and asset managers. The proposals address the operational expenditure KPI (OpEX), responding to stakeholder concerns about complexity and reporting burden. ESMA also seeks feedback on a pragmatic solution for group-level reporting in mixed groups, based on the parent undertaking's reporting model. The European Commission requested each European Supervisory Authority (ESA)—including the European Banking Authority (EBA) and European Insurance and Occupational Pensions Authority (EIOPA)—to provide advice on targeted aspects of the Taxonomy disclosure framework review. The ESAs are addressing specific issues within their remit, as well as horizontal topics of common interest. The simplification aims to preserve the relevance of disclosures for investors while reducing administrative burden on reporting entities. The consultation period runs for six weeks, closing on August 12, 2026, running in parallel with consultations by the other ESAs. ESMA will hold a public hearing on July 22, 2026, to present the proposals and engage with stakeholders. Following the consultation, ESMA will deliver its final technical advice by the end of October 2026, as requested by the European Commission.