The European Commission’s Omnibus Packages: Key changes to the CSRD and CSDDD
On 26 February 2025, the European Commission published its highly anticipated Omnibus Packages, consisting of a number of proposals which – according to the European Commission - are intended to “cut red tape and simplify EU rules for citizens and business”. The proposals introduce significant simplifications to the Corporate Sustainability Reporting Directive (“CSRD”), the Corporate Sustainability Due Diligence Directive (“CSDDD”), the EU Taxonomy and the Carbon Border Adjustment Mechanism (“CBAM”) (all included in the “Omnibus I” package), and to the InvestEU and EFSI Regulations (included in the “Omnibus II” package).
The Omnibus Packages were presented by the European Commission alongside the Clean Industrial Deal, a policy document outlining the European Commission’s contemplated actions “to turn decarbonisation into a driver of growth for European industries”.
In the coming weeks, our ESG-team will delve into various aspects of the Omnibus Packages and the Clean Industrial Deal, as well as the impact thereof on national legislative initiatives in Belgium, the Netherlands and Luxembourg.
Today, we start with an overview of the most relevant proposed amendments to the CSRD and CSDDD.
The Omnibus I Package proposals include several key changes to the CSRD and the CSDDD, including substantial simplifications to reporting and due diligence requirement (“Simplification” Proposal”), as well as the postponement of certain due dates for their applicability (“Stop-the-Clock” Proposal). On 3 April 2025, the European Parliament voted in favour of the Stop-the-Clock proposal (through the fast-track procedure), formally delaying the application of the CSRD and the CSDDD. The most relevant proposed amendments to the CSRD and the CSDDD are outlined in the schematic overview.
Should you wish to explore this topic in more detail or would you have any questions, do not hesitate to contact our ESG team!
The European Commission’s Omnibus Packages: Key changes to the CSRD and CSDDD
On 26 February 2025, the European Commission published its highly anticipated Omnibus Packages, consisting of a number of proposals which – according to the European Commission - are intended to “cut red tape and simplify EU rules for citizens and business”. The proposals introduce significant simplifications to the Corporate Sustainability Reporting Directive (“CSRD”), the Corporate Sustainability Due Diligence Directive (“CSDDD”), the EU Taxonomy and the Carbon Border Adjustment Mechanism (“CBAM”) (all included in the “Omnibus I” package), and to the InvestEU and EFSI Regulations (included in the “Omnibus II” package).
The Omnibus Packages were presented by the European Commission alongside the Clean Industrial Deal, a policy document outlining the European Commission’s contemplated actions “to turn decarbonisation into a driver of growth for European industries”.
In the coming weeks, our ESG-team will delve into various aspects of the Omnibus Packages and the Clean Industrial Deal, as well as the impact thereof on national legislative initiatives in Belgium, the Netherlands and Luxembourg.
Today, we start with an overview of the most relevant proposed amendments to the CSRD and CSDDD.
The Omnibus I Package proposals include several key changes to the CSRD and the CSDDD, including substantial simplifications to reporting and due diligence requirement (“Simplification” Proposal”), as well as the postponement of certain due dates for their applicability (“Stop-the-Clock” Proposal). On 3 April 2025, the European Parliament voted in favour of the Stop-the-Clock proposal (through the fast-track procedure), formally delaying the application of the CSRD and the CSDDD. The most relevant proposed amendments to the CSRD and the CSDDD are outlined in the schematic overview.
Should you wish to explore this topic in more detail or would you have any questions, do not hesitate to contact our ESG team!