The European Union’s move to revise its sustainability reporting rules, including the Corporate Sustainability Reporting Directive (CSRD), is generating considerable attention across the corporate landscape.
However, many businesses across Europe have already begun preparing for their ESG reporting obligations. The potential revisions could impact a wide range of companies, but much remains uncertain. Position Green, an automated ESG compliance platform, recently took a closer look at what’s known so far — and what’s still just speculation — as companies continue to navigate this evolving regulatory environment.
The term “Omnibus” refers to a legislative process used by the EU where several related laws are amended or repealed in a single legal act. It essentially serves as a package update, making changes across multiple pieces of legislation at once. This process can be challenging to follow, as the Omnibus text itself is essentially a list of revisions to existing laws rather than a standalone law. The sustainability Omnibus is only one of several such packages expected from the European Commission, with future Omnibus initiatives targeting other areas. The overarching goal is to reduce administrative burdens on businesses by 25%, with small-to-medium enterprises (SMEs) expected to see a 35% reduction.
The sustainability Omnibus is anticipated to cover changes to several key pieces of EU legislation. These include the CSRD, the Corporate Sustainability Due Diligence Directive (CSDDD), and the EU Taxonomy on Sustainable Economic Activities. Other sustainability-related laws may also be impacted.
Speculation is rife over the potential implications of the sustainability Omnibus, but certain facts remain clear. The CSRD itself is already legally in force across most EU member states, where it has been transposed into national laws. In these countries — including France, Italy, Ireland, Belgium, Denmark, Norway, Finland and Sweden — companies are required to report under the CSRD’s original timelines unless and until any changes are formally adopted.
A small number of countries, such as Germany and Austria, have yet to incorporate the CSRD into their national laws, technically leaving companies headquartered in those jurisdictions without a reporting obligation for now, Position Green stated. However, legal experts widely agree that once the CSRD is transposed into national legislation, affected companies will be required to report the following year — even if the law is adopted at the very end of 2025.
The European Commission has confirmed plans to simplify some CSRD requirements, with initial proposals expected to be published in late February or early March 2025. Once published, these proposals will enter a legislative process requiring agreement from all 27 EU member states and the European Parliament. This process could take several months — or even years — to complete.
While some timelines are being discussed, they remain entirely speculative at this point, it said. The Commission has indicated it hopes to publish sustainability Omnibus proposals in the first quarter of 2025, with 26 February being floated as a potential date. However, this is far from certain, and delays are always possible. When any final changes will be fully approved and enforced is equally unclear, as no official deadlines have been set.
Beyond the timing, there is even greater uncertainty surrounding the substance of the changes. It is not yet known which companies will be affected, what new reporting requirements will emerge, or whether any deadlines will shift. No formal details have been confirmed, meaning all assumptions at this stage are purely speculative.
Position Green, which has been supporting companies with regulatory adaptation since 2015, emphasises the importance of focusing on facts rather than rumours. Its advisors, who have extensive experience helping businesses navigate regulatory changes, recommend companies continue their preparations based on existing laws and adapt only when concrete changes are announced.
Position Green chief strategy officer Julia Staunig said, “It’s really important for companies not to fall behind on their sustainability journey. Regulations may change, but your ability to drive sustainable business growth doesn’t. Actionable non-financial data is essential for any business to thrive, regardless of the political debate.”
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