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Norway·Revisorforeningen

Voluntary sustainability standard and revised ESRS published with dates

The Voluntary Standard (in force 24 Sept 2026) replaces VSME and caps value-chain requests, while revised ESRS (in force 10 Nov 2026) cut mandatory datapoints by 60%; Norway lays both down by regulation.

By Taxxa AI Oy · Published 21 September 2026

Accounting & Reporting

Undertakings outside mandatory reporting under Articles 19a and 29a of Directive 2013/34/EU may disclose sustainability information on a voluntary basis in accordance with the sustainability reporting standard for voluntary use set out in Annex I to Commission Delegated Regulation (EU) 2026/1560 (the Voluntary Standard). From its entry into force, Recommendation (EU) 2025/1710 on the voluntary standard for small and medium-sized undertakings no longer produces legal effectsEuropa. Undertakings applying the standard are not obliged to seek assurance for the information they reportEuropa, and may also use the practical guidance provided by EFRAGEuropa. The Voluntary Standard replaces the former VSME standard as the proportionate framework smaller undertakings use to answer sustainability-information requests from banks, investors, customers and larger reporting undertakingsRevisorforeningen.

The standard doubles as a ceiling on value-chain requests. It establishes the value chain cap for undertakings subject to mandatory reporting under Articles 19a and 29a: reporting undertakings may not demand more sustainability information from smaller undertakings in the value chain than the voluntary standard providesRevisorforeningen, and the cap comprises only the datapoints specified in Annex IIEuropa. The cap applies from financial years beginning on or after 1 January 2027Europa.

The revised ESRS cut the mandatory burden. Delegated Regulation (EU) 2026/1563 replaces the sustainability reporting standards in Annex I to Delegated Regulation (EU) 2023/2772Europa, with the Commission stating the revision brings 60% fewer mandatory datapointsRevisorforeningen and an estimated cost saving of about 30% per undertakingRevisorforeningen. The revised ESRS enter into force on 10 November 2026 and apply to financial years beginning on or after 1 January 2027Europa. For financial years starting between 1 January 2026 and 31 December 2026, undertakings in scope may apply either the standards as last amended by Delegated Regulation (EU) 2025/1416 or the revised standardsEuropa, and must state clearly in the sustainability statement which version they applyEuropa.

Norway follows by regulation. Both sets of standards will be laid down as regulations in NorwayRevisorforeningen, and the Omnibus I implementing proposal states that Finansdepartementet aims to amend the regulation on sustainability reporting standards (ESRS) so Norwegian undertakings can also use the revised standards for the 2026 financial yearRevisorforeningen. Auditors and advisers should therefore plan FY2026 engagements on the basis that either version may be appliedEuropa, with the revised standards available once the Norwegian regulation is in placeRevisorforeningen.

Legal basis: Commission Delegated Regulation (EU) 2026/1560 establishing sustainability reporting standards for voluntary use by undertakings protected by the value chain cap, and Commission Delegated Regulation (EU) 2026/1563 simplifying the ESRS under Delegated Regulation (EU) 2023/2772, supplementing Directive 2013/34/EU; implemented in Norway through forskrift om standarder for bærekraftsrapportering (ESRS)Revisorforeningen.

Use the Voluntary Standard as the ceiling for requests to smaller value-chain undertakings, and plan FY2026 engagements on the basis that either ESRS version may be applied.

Sources

  1. Frivillig rapporteringsstandard for bærekraft og reviderte ESRS
  2. COMMISSION DELEGATED REGULATION (EU) 2026/1560 of 3 July 2026 supplementing Directive 2013/34/EU of the European Parliament and of the Council by establishing sustainability reporting standards for voluntary use by undertakings protected by the value chain cap (Text with EEA relevance)
  3. COMMISSION DELEGATED REGULATION (EU) 2026/1563 of 3 July 2026 amending Delegated Regulation (EU) 2023/2772 as regards the simplification of certain sustainability reporting standards (Text with EEA relevance)

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