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ARTICLE · 23 DECEMBER 2024

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Sustainability Developments: Possible Omnibus Simplification Package For Reporting; Possible Move From SFDR Disclosures To Categorisation

Arthur Cox
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We expect to see a material update or publication from the European Commission in late February 2025 on the potential simplification of sustainability reporting obligations under the EU...

European UnionCorporate/Commercial Law
Sarah Thompson
Sarah Thompson
Sarah O'Sullivan
Sarah O'Sullivan
Suzanne Kearney
Suzanne Kearney
Golda Hession
Golda Hession
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Possible Omnibus Simplification Package

We expect to see a material update or publication from the European Commission in late February 2025 on the potential simplification of sustainability reporting obligations under the EU Taxonomy Regulation, the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD).

While it's not yet clear whether that will be a legislative proposal, or an indication of direction of travel on a proposal, an "Omnibus simplification package" is on the provisional list of items for discussion at the College of Commissioners on 26 February 2025.

The possibility of an omnibus simplification package was first signposted by European Commission President Ursula von der Leyen in remarks on 8 November 2024 at a press conference following the launch of the Budapest Declaration on the New European Competitiveness Deal.

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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