European Parliament approves provisional agreement on the Omnibus package
Published 22 January 2026
Category: Impact and ESG
On 16 December, the Omnibus I simplification package was approved by the European Parliament. The simplification package introduces amendments to the Corporate Sustainability Due Diligence Directive (“CSDDD”) and the Corporate Sustainability Reporting Directive (“CSRD”). You can read more about the Omnibus Regulation in our previous updates here, here and here.
The following key points from the Omnibus I package may be highlighted:
CSRD
- Scope of application: EU undertakings and non-EU issuers with more than 1,000 employees and a net annual (worldwide) turnover exceeding EUR 450 million will be required to carry out sustainability reporting from 2028. Non-EU parent undertakings are required to report under the CSRD from 2029 if the net annual turnover for the last two financial years exceeds EUR 450 million, and if their EU-based branch or subsidiary’s net annual turnover exceeds EUR 200 million the previous year.
- Sector-specific standards: The Commission will no longer have the authority to adopt sector-specific standards.
- Wave one companies: From the 2027 financial year, “wave one” companies with fewer than 1,000 employees or net annual turnover of less than EUR 450 million will be excluded from the CSRD.
- Value chain cap: Companies with 1,000 employees or fewer may not be required to disclose additional information to larger business partners beyond the requirements set out in the voluntary reporting standards based on EFRAG’s VSME standard. EFRAG’s VSME standard is expected to be adopted in 2026, according to the Danish Business Authority.
CSDDD
- Scope of application: The due diligence requirements will apply to EU undertakings with a net annual (worldwide) turnover exceeding EUR 1.5 billion and with more than 5,000 employees. The CSDDD is applicable to non-EU undertakings, or their group if an ultimate parent, generating over EUR 1.5 billion in net annual turnover in the EU. The compliance date for in-scope companies under the CSDDD has been postponed to 26 July 2029, while the transposition date of the CSDDD has been delayed to 26 July 2028.
- Climate plans: Companies will no longer be required to adopt climate plans.
- Civil liability: The EU-harmonised liability regime will be removed, and civil liability will continue to be governed by national law.
- Additional information: Large companies should only seek additional information from smaller business partners (fewer than 5,000 employees), when the information cannot be obtained by other means.
With the purpose of facilitating compliance, the Commission plans to establish a digital portal where companies can access guidance and templates for sustainability reporting. Read more about the Omnibus I simplification package on the Danish Business Authority website here (in Danish). The European Parliament’s press release is available here.
Next: The text must now be published in the Official Journal, after which the directive will enter into force twenty days following its publication.
Tags: CSDDDCSRDSustainability
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