Ernst & Young – Navigating the EU Omnibus and Changes to Sustainability Reporting

The main topic of the document concerns changes in EU legislation related to sustainability reporting.

It also covers other related regulations such as the EU Omnibus, Corporate Sustainability Reporting Directive (CSRD), Corporate Sustainability Due Diligence Directive (CSDDD), and the Carbon Border Adjustment Mechanism (CBAM). Key findings include a proposed two-year delay for some companies regarding sustainability reporting, changes in thresholds for companies that must comply with new rules, restrictions on data requests from small and medium-sized enterprises (SMEs), changes in due diligence and supplier monitoring mechanisms, new thresholds for importers under CBAM, and eased taxonomy reporting requirements for some companies.