The European Securities and Markets Authority (ESMA) has published the outcome of its Common Supervisory Action (CSA) on ESG disclosures under the Benchmarks Regulation (BMR). The CSA, conducted with National Competent Authorities, aims to simplify ESG disclosure rules for benchmarks administrators. ESMA is recommending potential amendments to the BMR Level 2 measures to alleviate the regulatory burden on benchmarks administrators. The report also includes recommendations to enhance transparency and comparability of ESG information for users of benchmarks. ESMA considers the wider regulatory context on sustainable finance and the need for consistency and compatibility of ESG disclosure requirements across various legislations. The authority will continue to liaise with national competent authorities and the European Commission on follow-up actions. These actions will include using supervisory convergence tools to promote effective and consistent supervision regarding ESG disclosure. The goal is to build a stronger supervisory culture across the EU. The report is part of ESMA's role as a direct supervisor of benchmarks administrators. The CSA is the first of its kind, and its outcome will inform future supervisory actions. ESMA's recommendations aim to strike a balance between reducing the regulatory burden and ensuring transparency and comparability of ESG information.