{"id":1715,"date":"2025-03-06T17:01:33","date_gmt":"2025-03-06T17:01:33","guid":{"rendered":"https:\/\/www.it.horizoncons.com\/?p=1715"},"modified":"2025-03-22T17:10:16","modified_gmt":"2025-03-22T17:10:16","slug":"eu-omnibus-package-streamlining-sustainability","status":"publish","type":"post","link":"https:\/\/www.it.horizoncons.com\/en\/eu-omnibus-package-streamlining-sustainability\/","title":{"rendered":"EU Omnibus Package: Streamlining Sustainability"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Last week, the European Commission introduced a package of measures aimed at initiating a review and simplification of regulations to reduce administrative burdens while ensuring the implementation of the Green Deal does not hinder economic growth.<\/p>\n\n\n\n

With a focus on reducing reporting requirements, the so-called Omnibus package is assessing the following measures:<\/p>\n\n\n\n

Simplification of Reporting Requirements<\/strong><\/h4>\n\n\n\n

The Omnibus package aims to reduce complexity and bureaucratic burdens for companies, particularly smaller enterprises or those in high-emission sectors. It introduces limits on the information that companies or banks, under the scope of the Corporate Sustainability Reporting Directive (CSRD)<\/strong>, can request from companies in their value chains with fewer than 1,000 employees. This could lead to a narrowing of certain regulations, easing reporting obligations while maintaining the focus on sustainability objectives.<\/p>\n\n\n\n

Amendments to the CSRD<\/strong><\/h4>\n\n\n\n
    \n
  • Two-year deferral<\/strong> of reporting obligations for all companies except for public interest entities already required to report under the European Sustainability Reporting Standards (ESRS)<\/strong>.<\/li>\n\n\n\n
  • Reporting obligations would apply only to large enterprises with more than 1,000 employees<\/strong>, defined as those exceeding 1,000 employees and generating a net turnover of \u20ac50 million and\/or a total balance sheet of \u20ac25 million. This would reduce the number of companies subject to CSRD by approximately 80%<\/strong>.<\/li>\n\n\n\n
  • For companies that will no longer fall under the CSRD framework (up to 1,000 employees), the Commission pledges to reduce required data<\/strong>, clarify ambiguous provisions, and improve consistency with other legislative acts.<\/li>\n\n\n\n
  • The proposal also eliminates the Commission’s power to adopt sector-specific reporting standards<\/strong>.<\/li>\n<\/ul>\n\n\n\n

    Amendments to the Corporate Sustainability Due Diligence Directive (CSDDD)<\/strong><\/h4>\n\n\n\n

    The CSDDD<\/strong>, which requires companies to monitor their supply chains to ensure compliance with human rights and climate targets, may see:<\/p>\n\n\n\n

      \n
    • A one-year postponement<\/strong> of implementation.<\/li>\n\n\n\n
    • A reduction in scope<\/strong> and modification of legal liability requirements<\/strong>.<\/li>\n<\/ul>\n\n\n\n

      Revision of the EU Taxonomy<\/strong><\/h4>\n\n\n\n

      Potential adjustments include:<\/p>\n\n\n\n

        \n
      • Introduction of new categories<\/strong> or simplifications to clarify which activities are classified as “green” and how businesses can align with these criteria.<\/li>\n\n\n\n
      • A reduction in the reporting burden<\/strong>, limiting EU taxonomy reporting obligations to larger companies<\/strong> (aligned with the CSDDD scope).<\/li>\n\n\n\n
      • Smaller companies would be exempt, but large firms under the future CSRD scope could voluntarily<\/strong> report on taxonomy compliance, offering cost savings while still enabling access to sustainable finance.<\/li>\n\n\n\n
      • Introduction of a financial materiality threshold<\/strong>, reducing the number of reporting models by approximately 70%<\/strong>.<\/li>\n<\/ul>\n\n\n\n

        Simplification of the Carbon Border Adjustment Mechanism (CBAM)<\/strong><\/h4>\n\n\n\n

        The proposal would exempt small importers<\/strong>\u2014mainly SMEs and individuals\u2014from CBAM obligations by introducing a new cumulative annual CBAM threshold of 50 tons per importer<\/strong>. This would eliminate CBAM obligations for about 90% of importers<\/strong>, primarily SMEs, while still covering over 99% of emissions<\/strong>. Additional simplifications<\/strong> for companies remaining under CBAM would include:<\/p>\n\n\n\n

          \n
        • Streamlined authorization<\/strong> processes for CBAM declarants.<\/li>\n\n\n\n
        • Simplified rules for emissions calculation and reporting obligations<\/strong>.<\/li>\n<\/ul>\n\n\n\n

          Impact on Italian Companies<\/strong><\/h4>\n\n\n\n

          As a result of the above changes, many Italian companies<\/strong> currently subject to mandatory reporting in 2026 under Legislative Decree No. 125\/2024<\/strong> (companies with more than 250 employees and\/or a net turnover of \u20ac50 million and\/or a total balance sheet of \u20ac25 million) will likely be excluded under the Omnibus provisions. They will instead have the option to report voluntarily<\/strong> under the Voluntary Sustainability Standards for SMEs (VSME)<\/strong> developed by EFRAG<\/strong>.<\/p>\n\n\n\n

          However, the principle of “double materiality” remains confirmed<\/strong>\u2014meaning companies must consider both:<\/p>\n\n\n\n

            \n
          1. The impact of their activities<\/strong> on the environment and society (environmental and social materiality<\/strong>).<\/li>\n\n\n\n
          2. How environmental and social factors<\/strong> affect their business (financial materiality<\/strong>).<\/li>\n<\/ol>\n\n\n\n

            Balancing Bureaucratic Reduction and Climate Commitments<\/strong><\/h4>\n\n\n\n

            Overall, the Omnibus package<\/strong> seeks to strike a balance between reducing regulatory burdens<\/strong> and upholding the EU\u2019s climate commitments<\/strong>, in line with the Paris Agreement<\/strong>. It also reaffirms that voluntary sustainability reporting should be viewed as a competitive advantage<\/strong>, embedded in strategic planning for long-term business resilience.<\/p>\n","protected":false},"excerpt":{"rendered":"

            Last week, the European Commission introduced a package of measures aimed at initiating a review and simplification of regulations to reduce administrative burdens while ensuring the implementation of the Green Deal does not hinder economic growth. With a focus on reducing reporting requirements, the so-called Omnibus package is assessing the following measures: Simplification of Reporting […]<\/p>\n","protected":false},"author":3,"featured_media":1711,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1715","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-non-categorizzato"],"acf":[],"yoast_head":"\nEU Omnibus Package: Streamlining Sustainability<\/title>\n<meta name=\"description\" content=\"Omnibus package aims to reduce complexity and bureaucratic burdens, particularly smaller enterprises or those in high-emission sectors.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.it.horizoncons.com\/en\/eu-omnibus-package-streamlining-sustainability\/\" 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