For investment funds, aggregating and comparing ESG data across their portfolio companies is a constant challenge. For SMEs, the increasing pressure to report on sustainability can feel overwhelming.
In 2024, EFRAG launched the Voluntary Sustainability Reporting Standards for SMEs (VSME) — a framework designed to be simple, efficient, and, above all, aligned with the CSRD.
This standard lays the groundwork for transparent, comparable, and credible reporting, creating a common language between funds and portfolio companies.
For Investment Funds:
For Portfolio Companies (SMEs):
If you haven’t seen it yet, EFRAG has published an Excel template that guides data collection and allows conversion to the digital XBRL format — a key step in the new era of sustainability reporting.
Check out the standard here: [EFRAG VSME]
And the digital template here: [EFRAG Template]
In short, the VSME standards act as a bridge between a fund’s oversight needs and an SME’s operational capacity — a practical solution for a complex challenge.
At ILV SILVER | Deal & Business Advisory, we help funds and portfolio companies continuously improve.
Learn more at:https://www.ilvsilver.com/es/financiero/asg-impacto/
Victor Manz
Director of ESG & Impact – SFDR, CSRD, Assurance
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