Consistently reduce bureaucracy also in tagging obligation

In our response to the ESMA consultation on the digitalisation of financial and sustainability reporting, we propose eliminating the tagging obligation for financial and sustainability information. This would relieve companies of a high level of bureaucracy and save costs. The iXBRL system has been outdated since its introduction and is now obsolete in view of the rapid progress in AI technology. Eliminating the tagging obligation would not result in any loss of information, as AI tools can now also extract, interpret and evaluate the reported information from PDFs without having to rely on electronic tagging in accordance with iXBRL.