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Background information
The European Commission (EC) released its Omnibus on Sustainability Reporting Proposal on Feb. 26, 2025, as part of its agenda to simplify EU sustainability legislation and reduce administrative burdens for companies while safeguarding the objectives of the EU Green Deal, including content and a timeline proposal. The initial “content” proposal amended key content-related provisions of:
- The Corporate Sustainability Reporting Directive (CSRD)
- The Corporate Sustainability Due Diligence Directive (CSDDD)
- The EU Taxonomy (EUT) Regulation
The Global Electronics Association has consistently advocated for proposed content-related simplification measures regarding sustainability reporting in these three key policies. Read our position here. Amendments to the Carbon Border Adjustment Mechanism (CBAM) Regulation were also proposed.
Figure 1: Omnibus for sustainability reporting timeline.
In a parallel process, the European Financial Reporting Advisory Group (EFRAG) has been tasked by the EC with simplifying ESRS, including adjustments to Double Materiality Assessment (DMA) requirements.
Following negotiations with the Council of the European Union, the European Parliament (EP) adopted the final legal text on Dec. 16, 2025, to be published in the Official Journal of the European Union in March 2026. European Member States are required to transpose all provisions of the directive within 12 months of their entry into force, except for those related to CSDDD, which must be transposed by July 26, 2028. Read our statement on the omnibus political agreement.
In addition, the related so-called “Stop-the-Clock” directive (the “timeline” proposal) postponed the application of the existing reporting requirements for Wave 2 and Wave 3 entities under the current CSRD, including EUT disclosures required by the CSRD, and delayed the effective date to comply with the first phase of requirements of the CSDDD by one year.
To continue reading this article, which originally appeared in the March 2026 edition of SMT007 Magazine, click here.
