EU Sustainability Reporting: Less Is More?

The EU Commission's simplification drive continues following the finalisation of the Sustainability Omnibus Directive. Attention now turns to the reporting standards themselves, a critical piece of the puzzle for undertakings remaining in scope of the Corporate Sustainability Reporting Directive ("CSRD") to understand what will be required of them from the next financial year (in most cases). The Commission is also looking to finalise revised voluntary reporting standards for companies not in scope of CSRD, which is important not just for those companies that do wish to report voluntarily, but also for those in the value chains of reporters, as explained further below.