In line with the European Commission’s goal to reduce reporting burdens and enhance competitiveness, the European Parliament has voted on the Omnibus I proposal, bringing legal clarity to the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD).
Key takeaways:
- CSRD Reporting Delayed – Companies required to report for financial years starting on or after 1 January 2025 and 2026 will now have an additional two years to prepare.
- CSDDD Implementation Adjusted – The first set of companies falling under the directive will see a one-year postponement, allowing them more time to integrate compliance measures and align with forthcoming Commission guidelines.
- Member States Compliance Deadline – National laws implementing the directive must be in place by 31 December 2025.
This decision aims to provide businesses with the necessary time and resources to adapt to sustainability reporting and due diligence requirements effectively.
⚠️ Note: The decision does not take legal effect from today, as it must first be published in the EU’s Official Journal. However, this is just a formality and will take place in the coming weeks.