As reported by Umweltdialog, the European Central Bank (ECB) has issued a formal statement against the planned restrictions on companies' corporate sustainability reporting obligations (CSRD) as part of the so-called "omnibus" package (trade-e-bility reported: CSRD & CSDDD postponement coming), as the ECB believes that they will significantly restrict the availability of crucial sustainability information. The ECB warns of the negative consequences of a planned 80 per cent reduction in the scope of the CSRD. According to the ECB, this would restrict access to important information and could have undesirable consequences, such as less information on greenhouse gas emissions. It calls on EU legislators to carefully re-examine the scope of sustainability reporting. As a solution, the ECB proposes including medium-sized companies with 500 to 1,000 employees in the scope of the CSRD, but with simplified and proportionate reporting standards. This would close information gaps without placing an excessive burden on companies. The ECB takes a differentiated stance on other aspects of the reform, such as the shortening of reporting obligations along the value chain and transitional provisions of the Corporate Sustainability Due Diligence Directive (CSDDD).
Questions about CSRD, CSDDD or Omnibus1? The trade-e-bility consulting team will be happy to help you via +49/40/750687-300 or send us an e-mail.
