The Future Of Sustainability Reporting In The EU After The Omnibus

The European Union is gearing up for a big shift in sustainability reporting with the upcoming Omnibus Simplification Package, set to be released tomorrow. The goal? To simplify complex regulations like the CSRD, CSDDD, and EU Taxonomy while still keeping the EU’s strong commitment to sustainability intact. This move is all about cutting down the red tape, making compliance easier for businesses, and reducing reporting obligations.

One of the biggest expected changes is raising the threshold for mandatory sustainability reporting. The idea is to ease the pressure on smaller companies while still holding larger corporations accountable.

There’s also talk of simplifying reporting standards to eliminate unnecessary complexity. This could mean getting rid of sector-specific reporting requirements and creating a more streamlined approach across industries. Another major update is extending the phasing-in period until the end of 2025, giving businesses more time to adapt to the changes.

These adjustments are meant to make sustainability reporting more accessible, especially for SMEs that often struggle with compliance costs. But not everyone is on board. Some EU member states, like Spain and Italy, are pushing to keep strict sustainability rules in place to uphold environmental and human rights standards. Meanwhile, countries like Germany and France support easing regulations to help businesses stay competitive.

At its core, the Omnibus Simplification Package is about striking a balance between sustainability oversight and economic growth. As these reforms take shape, companies need to stay ahead of the curve, ensuring they adapt to the evolving regulatory landscape without losing sight of their sustainability goals.

For more information for how Intertek can help your organisation with CSDDD and CSRD please visit: EU Corporate Sustainability Reporting Directive (CSRD) Solutions