EU prepares to fast track Omnibus proposals after the commission’s request
March 7, 2025
European co-legislators have started preparing and approving a series of changes aimed at simplifying sustainability reporting requirements after the European Commission called for these changes be fast-tracked, Responsible Investor reports.
The Omnibus package proposes a series of reforms to simplify and delay the Corporate Sustainability Reporting Directive (CSRD), Corporate Sustainability Due Diligence Directive (CSDDD) and EU Taxonomy.
The commission called for the co-legislators, the European Parliament and the Council of the EU, to “fast track” the Omnibus proposals.
Before the changes can be approved, the two bodies must reach an agreement, appoint a committee to lead on the proposals, and establish their respective negotiating positions.
As a result, the Polish presidency of the Council is now prioritising the package and has appointed a working group to focus on the simplification aspects of the proposals.
The proposals also include extending the CSDDD transition deadline by one year to July 2027 and delaying the application date for the first wave of companies to July 2028.
Additionally, the CSRD implementation is delayed by two years, giving certain EU and non-EU issuers, along with large companies (500+ employees), until 2028 to report instead of this year. This delay also applies to large companies scheduled to report under the second wave from 2026.
An informal deadline to delay the CSRD and CSDDD timelines has been set for early May, though this will be confirmed as the fast-track process progresses. Outside of this process, a commission proposal typically takes around 18 months to be finalised and adopted.
Parliament could decide to fast-track one or both proposals, which would move them directly to plenary without a committee vote.
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Last Updated: 7 March 2025