EU omnibus proposes scaling back CSRD reporting rules Download On 26 February, 2025 the European Commission released a package of proposals (“omnibus package”) aimed at significantly scaling down several sustainability regulations in Europe that are either in effect already or about to take effect. This is a fulfilment of commission President Ursula von der Leyen’s vow last year to reduce reporting burden for businesses by 25% (35% for small and medium entities, or SMEs).The main regulations affected are the Corporate Sustainability Reporting Directive (CSRD), the Corporate Sustainability Due Diligence Directive (CSDDD), the European Union Taxonomy Regulation (EU Taxonomy), the Carbon Border Adjustment Mechanism (CBAM), and InvestEU. These are proposals, not a final regulatory decision. The proposals need to make their way through the review, comment and approval process and then be implemented as law in each of the EU member states. Companies should stay tuned to developments even as they prepare for compliance in the near term. Download Topics Risk Management and Regulatory Compliance Industries Financial Services Leadership Rich Turley Rich is a Sydney-based managing director at Protiviti Australia, where he helps organisations enhance business value through technology-enabled risk and assurance solutions. He leads internal audit and risk advisory services for ASX-listed companies and major Australian ... Learn More CSDDD: It’s Not Too Soon To Get Moving While the EU’s Corporate Sustainability Reporting Directive (CSRD) that took effect in January 2023 is primarily disclosure-oriented, the EU’s Corporate Sustainability Due Diligence Directive (CSDDD) is all about action. Read more Sustainability regulation: ESG disclosures and demand for accountability set the tone for the future In recent years, increasing pressures from a variety of stakeholders have combined to drive companies toward more sustainable practices in their business operations, and greater transparency. Read more
