Spanish Accounting and Audit Institute (ICAC) and Spanish Association of Accounting University Lecturers (ASEPUC) study first application of ESRS in Spain
The document examines the first reporting statements prepared under the ESRS and highlights the need to move towards greater uniformity, clarity and proportionality in disclosure.
The Spanish Accounting and Audit Institute (ICAC) and the Spanish Accounting University Lecturers Association (ASEPUC) have published a study analyzing the reports of Spanish companies that have published a sustainability reporting statement in 2025 under the ESRS.
The study brings attention to the considerable length of the published reports. Companies applying the full European sustainability reporting standards (ESRS) present reports with an average of 246 pages, which is more than double the European reference reported by EFRAG.
In relation to the materiality study, close to 20% of companies consider the ten topic-specific standards in the ESRS to be material. The topics found to have the broadest significance were climate change, headcount and business practices. The study also pinpoints a high level of disclosure in key sustainability areas as happens with their climate transition plans, scope 3 emissions, greenhouse gas emission reduction targets and information on the gender pay gap. Additionally, a majority of the reports studied include the EU taxonomy.
The main conclusion of the study is a recommendation to move towards greater uniformity in presentation of the information and to reduce the size and complexity of the reports, by using, among other measures, a better structuring of the disclosure requirements together with exhibits for voluntary information.