The European Commission has unveiled its Omnibus simplification proposals to scale back and delay sustainability reporting requirements under the Corporate Sustainability Reporting Directive (CSRD) and related rules.
The European Commission’s Omnibus simplification proposal, if enacted, will change the shape of sustainability reporting across that continent, reducing the number of private companies required to comply with the European Sustainability Reporting Standards (ESRS) while streamlining the disclosures themselves.
Brussels is deep in a complex “omnibus” policy discussion around the shape, scope and size of sustainability reporting requirements. Regardless of the outcome, here at XBRL International, it is our view that for EU markets to remain relevant and competitive, the EU needs to fully embrace digital reporting.
There are a lot of statements both against and for the EU’s “omnibus” legislation. On Tuesday, a group of 163 investment firms managing approximately €6.6 trillion in assets, together with a number of umbrella investor organisations, issued a joint statement urging the European Commission to uphold the integrity of the EU’s sustainable finance framework amid […]
Big changes are on the horizon for corporate sustainability reporting in Europe with the Omnibus Simplification Package, set to be unveiled on 26 February. To be informed by the EU’s broader Competitiveness Compass, the omnibus aims to streamline regulatory requirements, particularly for small and medium-sized enterprises (SMEs).
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
