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 Sam Bassett Sam is the country leader for Protiviti Singapore. With over 25 years' experience, he's primarily worked in financial services with consulting firms or directly in the banking industry to deliver change and support strategic, tactical, and operation goals across Asia, ... Learn More Ann Chi Koh Ann Chi is a managing director who leads the internal audit and financial advisory services solution for Protiviti Singapore. She has a proven track record managing and leading multi-location and multi-year consultancy projects at top tiered global MNCs, particularly in ... 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
