Today, the European Parliament voted on and adopted the ‘stop-the-clock’-proposal of the European Commission to postpone the application of the CSRD by two years for ‘wave 2 and 3 companies’ within its remit and to delay the transposition and application of the CSDDD by one year. The postponement will allow European co-legislators to further discuss the substantive changes to the CSRD and CSDDD included in the Omnibus proposal.

As the European Council already announced its support of the stop-the-clock-proposal last week, its formal approval is expected soon. The Directive will thereafter enter into force the day following its publication in the Official Journal of the European Union. Member States will have until 31 December 2025 to transpose the provisions into national legislation.

Stay tuned to be updated on further Omnibus developments. In the meantime, feel free to reach out if you would like a deeper dive!

#ESG #Sustainability #CSRD #CSDDD #Omnibus #CorporateResponsibility #contrastupdate #VCDO