ESBG welcomes the opportunity to comment on the European Commission's proposal to establish a European Single Access Point (ESAP).

This tool was already listed as one of the sixteen actions to carry out in the framework of the Capital Markets Union. The ESAP has been designed as a very ambitious tool with the aim of collecting financial and non-financial information. ESBG members would like to highlight the need of taxonomies regarding non-financial information. Companies already make an important effort to comply with all reporting’s required at international and national level. Although the Commission mentions in the consultation document that ESAP is a voluntary tool, ESBG believes it is very important to emphasize this feature and in a first stage it should be configured as a voluntary tool.