Voluntary Sustainability Reporting Standard for SMEs (VSME)
TheVoluntary Sustainability Reporting Standard for SMEs (VSME), developed byEFRAG, provides small and medium-sized enterprises with a clear, structured, and proportionate framework to disclose their environmental, social, and governance (ESG) performance.
AtCG Business Consulting, we help SMEs turn sustainability reporting into a competitive advantage — backed by hands-on support, strategic insight, and real-world experience.
What is VSME?
VSME is a voluntary EU-wide framework created specifically for non-listed SMEs.It is designed to:
Simplify sustainability disclosures
Meet increasing stakeholder and regulatory demands
Prepare businesses for future compliance with the Corporate Sustainability Reporting Directive (CSRD)
The final VSME draft has now been published by EFRAG to the European Commission. (Download here: VSME Standard.pdf.)
What does the VSME standard include?
It comprises two modules, theBasic Moduleand theComprehensive Module, the requirements for each are outlined below.
Both modules follow the ‘if-applicable’ principle: companies only have to provide the information that applies to them, which limits the reporting effort.
This results intwo options for VSME reporting:
Reporting exclusively according to the ‘Basic Module’
Reporting both the ‘Basic Module’ and the ‘Comprehensive Module’
1. Basic Module
The ‘Basic Module’ is intended as a target for micro-entities and as a minimum requirement for all other small and medium-sized enterprises. It contains 11 core disclosures with a total of 55 data points covering fundamental sustainability aspects:
General information on the chosen reporting option, omitted information, subsidiaries and sustainability certifications
Practices, strategies and future sustainability-related initiatives
Environmental metrics such as energy consumption, greenhouse gas emissions, water use and waste management
Social aspects including labour practices, compensation, health and employee training
Governance topics, in particular anti-corruption, bribery and compliance
2. Comprehensive Module
Companies that have to meet specific requirements of external stakeholders can use the ‘Comprehensive Module’. It builds on the ‘Basic Module’ and contains 9 additional reporting topics with a total of 41 data points:
Detailed climate reporting including emission reduction targets and climate risks if applicable
Advanced social key figures, such as human rights and diversity in the workforce
Further governance topics such as revenue from controversial sectors or gender diversity in management
Steps to Conduct a Double Materiality Assessment
1. Define Scope and Objectives
Determine the purpose of the assessment and identify relevant ESG factors and frameworks like CSRD or GRI.
2. Map and Engage Stakeholders
Identify key stakeholders and gather insights through surveys, interviews, or workshops to understand their priorities.
3. Identify and Prioritise Material Topics
Research and refine ESG topics using industry benchmarks, peer analysis, and stakeholder feedback.
4. Assess Financial and Impact Materiality
Evaluate how ESG factors affect your business’s financial performance and societal / environmental impact.
5. Analyse and Validate Findings
Create a materiality matrix to prioritise topics and review findings with leadership and stakeholders.
6. ESG Road Map
Publish results, align strategies with insights, and update the assessment regularly to reflect evolving conditions.
At CGBC, we don’t just advise on sustainability, we lead by example. We’ve completed and published our own VSME aligned sustainability report to demonstrate our commitment to transparency, responsible business, and continuous improvement.
In line with our commitment to sustainability leadership,CG Business Consultingis proud to announce the publication of our inaugural VSME report. To access the report, please complete the form above to download your copy.
This experience means we bring first-hand insight into the process, challenges, and opportunities of VSME reporting. When you work with us, you're guided by a team that knows exactly what it takes, because we've done it ourselves.
Why SMEs Are Adopting VSME?
Win Contracts – Meet ESG criteria in tenders and procurement
Secure Green Financing – Improve access to sustainable investment
Build Brand Trust – Strengthen relationships with customers and stakeholders
Stay Ahead – Prepare for CSRD and market-driven ESG requirements
Our VSME ServicesInclude the Following:
VSME Reporting& Disclosure
Gap Analysis& Stakeholder Mapping
ESG Roadmaps& Implementation Plans
VSME TrainingWorkshops
Integration with ISO/CSRDFrameworks
Ongoing Advisory& Funding Support
VSME Training for Your Team
Want to build in-house capacity to manage your sustainability reporting?
We now offerVSME Training Workshops, tailored sessions for leadership, sustainability managers, or cross-functional teams. You’ll learn:
How the VSME framework works (Basic & Comprehensive Modules)
How to interpret and respond to ESG data requirements
Practical steps for gathering information and reporting
How to integrate VSME with ISO, CSRD or other reporting systems
Whether you’re just starting or enhancing your internal expertise, our trainingempowers your team to take ownership of your sustainability journey.
Access Enterprise Ireland & IDA Green Funding
We help SMEs accessEnterprise Ireland/IDA grantsthat can fund VSME projects, including:
GreenStart– For early-stage sustainability actions
GreenPlus– For strategy development and reporting system implementation
Climate Action Voucher– For working with expert consultants
Green Transition Fund– For long-term decarbonisation projects
Our team supports you through eligibility checks, application preparation, and project delivery.
Why Choose CG Business Consulting?
With over 16 years of experience in ISO and sustainability consulting, CG Business Consulting is trusted by SMEs, multinationals, and public sector clients to deliver clarity, structure, and results.
Our Expert Team Includes:
Noel Conaty – Head of Climate Change & Sustainability, specialising in environmental and energy management strategies.
Manuel Gonzalez – Globally recognised Senior GHG consultant, expert in sustainability reporting and actively contributing to ISO’s Net Zero frameworks.
Helen Budowsky – Energy & Environmental Consultant specialising in ISO-compliant greenhouse gas inventories and decarbonisation strategies.
Reed Yu - Sustainability Consultant specialising in carbon inventory and sustainability reporting.
Carolina Vindas- Expert in carbon footprint, Net Zero pathways, life cycle analysis (LCA) and sustainability reporting.
Book a Free Consultation
From the consultation you will:
Speak directly to an ISO professional
Get expert advice on your business requirement
Understand the benefits of certification for your business
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