The first step has been approved: the stop-the-clock. This means the CSRD has been postponed by two years for all companies except those in the first wave (listed companies currently reporting on 2024). Additionally, the CSDDD has been postponed until 2028. The other proposed changes will be discussed next.
What Does This Mean for Businesses?
The proposal suggests reducing the scope of CSRD, postponing deadlines for the second and third waves of implementation, and minimizing data points for reporting. This could mean more time and less compliance pressure for companies, but it also introduces uncertainty. It’s crucial to keep moving forward with sustainability initiatives despite potential adjustments.
Beyond Compliance: Staying the Course
While some companies may consider slowing down or pausing their sustainability strategies, we believe this is the moment to rethink and strengthen them. The Omnibus proposal highlights the need for businesses to move beyond mere compliance and truly integrate sustainability as a strategic priority. Even if regulatory requirements change, investors, customers, and employees will continue to expect credible and transparent sustainability efforts.
Opportunities for Proactive Businesses
This period of change opens up opportunities for companies willing to take ownership of their sustainability strategies. As big consultancies may lean more on compliance-focused approaches, there is a chance for agile and strategic partners to step in and support companies looking to build long-term value.
The Takeaway
The Omnibus proposal doesn’t mean the end of sustainability reporting. It’s a chance to redefine how businesses approach it. By staying proactive, companies can move beyond compliance and focus on creating real impact. Sustainability is here to stay, and those who adapt now will be better prepared for the future.
Would you like to discuss how your company can navigate these changes? Reach out to us to explore your next steps.