REGULATIONS
as the quantity and quality of disclosures. The European Sustainability Reporting Standards( ESRS) have over 1000 data points, and reporting is subject to external assurance.
The reform proposal raises compliance thresholds such that 80 % of firms currently in scope would be exempt from reporting, sectorspecific standards would be scrapped and data points significantly reduced. A confirmed 2-year delay hits the pause button on the need to comply for wave 2 and wave 3 companies. This regulatory pullback aims to cut € 6 billion in administrative costs and reduce the burden of compliance for smaller companies. It comes at a critical juncture for corporate sustainability, with many companies already investing in new sustainability tools or platforms, and innovative technology emerging to drive better sustainability data management and transparency.
Amid the ongoing debate around the Omnibus, a simple fact remains: good data is good for business. A better handle on data is what enables sustainability to be managed as a strategic corporate initiative,
“ Europe will be the first climate-neutral continent on the planet by 2050”
86 May 2025