Almost a year after the European Commission first unveiled its “Omnibus
Almost a year after the European Commission first unveiled its “Omnibus I” simplification package, the Council of the European Union has formally adopted new legislation revising the bloc’s corporate sustainability reporting and supply-chain due diligence framework.
The measure, officially known as Directive (EU) 2026/470, was approved on February 24 and published in the Official Journal of the EU on February 26. It amends several existing laws governing corporate reporting and sustainability obligations, including the Corporate Sustainability Reporting Directive and the Corporate Sustainability Due Diligence Directive.
The directive represents the final legislative step in a process that has unfolded over the past year, as EU institutions moved to adjust sustainability rules that many companies had argued were overly complex and administratively burdensome.
A narrower scope for sustainability reporting
One of the directive’s most significant changes concerns which companies must disclose sustainability information.
Under the revised rules, mandatory reporting will apply only to companies with more than €450 million in net annual turnover and more than 1,000 employees. The threshold is introduced through amendments to the EU’s accounting framework, Directive 2013/34/EU.
The change substantially reduces the number of companies required to publish sustainability disclosures. Firms below these thresholds
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