Latest developments on the EU Sustainability Omnibus

The European Parliament’s position goes even further than the European Commission and Council of the European Union in reducing sustainability reporting and due diligence requirements. Under the current proposal:

• only companies with more than 1,750 employees and a net annual turnover above EUR450 million would fall under the EU sustainability reporting requirements
• companies in scope of the Corporate Sustainability Due Diligence Directive (CSDDD) would no longer be required to prepare a climate transition plan.

Trilogue negotiations between the European Commission, the Council of the European Union and the European Parliament have now started, with the aim of reaching agreement before the end of the year.

In our latest publication, we also look at:

• the European Commission’s “quick fix” delegated act
• progress on the simplification of the European Sustainability Reporting Standards (ESRS)
• the voluntary small and medium-sized enterprises (SME) standard
• the simplification of the EU Taxonomy disclosures.

Want to understand what these developments mean for your organization?