The first webinar, attended by 230 participants, introduced the VSME Standard, developed by EFRAG and endorsed by the European Commission. It outlined the rationale for a proportionate, practical framework tailored to SMEs and explained the VSME Standard principles and two reporting modules (basic and comprehensive). 

The second webinar, attended by 170 participants, provided practical guidance on implementing the VSME Standard, including a walkthrough of digital tools, templates, and support materials. Participants learned how these resources can help SMEs produce reliable sustainability data, support regulators in policy development, and enable educational institutions to integrate the VSME Standard into their curricula. The session also highlighted the benefits of aligning with the VSME Standard for a smooth transition to European Sustainability Reporting Standards in the future. 

Sustainability reporting is becoming a core expectation for businesses of all sizes, and the VSME Standard is designed to help SMEs meet growing data demands from banks, investors, and large clients, while also managing sustainability risks. The discussions underscored the growing importance of sustainability reporting for SMEs, especially those operating in or trading with the EU. Using the VSME Standard could also help SMEs access sustainable finance more easily and potentially improve their competitiveness while simplifying reporting requirements. The sessions gave a clear understanding of the framework to regulators and policymakers, and also to universities and training providers that may consider incorporating the standard into their curricula to enhance education and professional development. Initial feedback from participants indicated high satisfaction with the practical content of the webinars and appreciation of the opportunity to engage directly with the authors of the VSME Standard. Those attending valued the clarity of explanations and the actionable guidance provided. 

The webinars were made possible through the generous support of the Austrian Federal Ministry of Finance, the Swiss State Secretariat for Economic Affairs, and the Austrian Development Agency under Enhancing Accounting, Auditing, and Sustainability Reporting (EAASURE) Regional Program. 

Resources and guidance on the VSME Standard can be found on the EFRAG website. 

Future CFRR events will continue to support capacity building in sustainability reporting among regulators, professional associations, and SMEs, including by exploring advanced topics and providing further implementation support.