In an article recently published by Law360, Susan Mac Cormac, Jakob Tybus and Tim Bartels discuss the European Commission’s publication of two draft delegated regulations for consultation, concerning sustainability reporting within the EU.
As noted, “The first amends the existing European Sustainability Reporting Standards, or ESRS, to simplify and streamline sustainability reporting. The second establishes a new voluntary standard for undertakings with no more than 1,000 employees, which will also serve as the statutory value chain cap.”
“The policy direction has been consistent: fewer companies in scope, later and lighter obligations, and explicit protections for smaller value chain counterparties. These draft delegated acts now translate that direction into specific reporting standards.”
“The commission's proposals confirm a recalibration — not a retreat — from the EU's sustainability reporting ambitions. Companies that treat these proposals as a reason to defer preparation risk being caught off guard by the tight implementation timeline.”
Read the full article, including key changes, the timeline and recommendations for companies.
