The European Securities and Markets Authority (ESMA) is consulting on simplifying the EU Taxonomy disclosure framework. This initiative aims to reduce reporting burdens for market participants. The consultation builds on previous simplification efforts and seeks to maintain the relevance of disclosures for investors. ESMA proposes simplifying the operational expenditure key performance indicator (OpEX) due to complexity and reporting concerns. It also seeks feedback on group-level reporting for mixed groups. European Supervisory Authorities (ESAs) were asked by the European Commission to advise on specific review aspects of the Taxonomy disclosure framework. The ESAs are addressing both their remits and common horizontal topics. This consultation will run for six weeks, closing on August 12, 2026. ESMA will hold a public hearing on July 22 to discuss its proposals. The final technical advice will be submitted to the European Commission by the end of October 2026.