The Sustainability Omnibus: Latest Developments
At the end of February, the European Commission published its proposal for the First Omnibus package. With this, the EC aims to simplify sustainability legislation by reducing administrative burdens. This particularly impacts the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD).
The First Omnibus package includes proposals to narrow the scope of the CSRD (fewer companies will be subject to the obligation), delay implementation by two years, and ease burdens on SMEs.
For the CSDDD, requirements are being relaxed regarding how many tiers back in the supply chain companies are responsible for labour conditions and climate impact. Additionally, civil liability is being removed.
For a complete overview of the proposed changes, we refer to this article or the recordings of our webinar on the sustainability Omnibus.
Different Rules, Same Challenges
Regulations may change, but major challenges such as biodiversity loss, human rights violations, and climate change remain. Our advice is to stay committed to sustainability. Focus on what truly adds value: conduct a double materiality analysis, improve your due diligence policies, and maintain close contact with suppliers and customers.
The Omnibus package is still just a proposal. This means that the European Parliament and the European Council must now discuss it (the so-called trilogues) and then vote on it. This could lead to substantive changes or even the rejection of the entire proposal.
Strategic Pillar
At the beginning of April 2025, Brussels will vote on several procedural points. The substantive discussion of the proposals may take some time, depending on the chosen route. However, people and the environment cannot wait. Therefore, ensure that sustainability remains a strategic pillar.
In this article, we discuss the positions of various parties within the European Parliament. Stay closely informed about the news from Brussels and even consider making your voice heard with local or European politicians.