5 key topics in the upcoming omnibus negotiations and their impact on ESG reporting

Summer may be drawing to a close in Brussels, but the Omnibus negotiations are moving into high gear. Discussions have resumed in the JURI committee, and the EMPL committee is set to vote on its proposals this Thursday.

In the coming weeks, five key issues will dominate the debate:

1. Avoiding further exclusions from CSRD and CSDDD – Assessing the real impact of leaving more companies outside the scope.

2. Protecting EU climate goals – Ensuring companies and financial institutions have the right planning and accounting tools to deliver on Europe’s commitments.

3. Facilitating essential information flows – Preventing confusion between in-scope and out-of-scope companies while avoiding a concentration of sustainable investment benefits among only the largest players.

4. Enabling risk-based due diligence – Allowing businesses to prioritise direct partners while ensuring that severe risks across their value chains are not overlooked.

5. Drafting compromises clearly – Promoting precision in wording to avoid legal complexity or divergence from international standards.

EFRAG Consultation Open Until 29 September

Meanwhile, EFRAG’s public consultation on the revised EU sustainability reporting standards is ongoing. Stakeholders are invited to share their feedback before 29 September. EFRAG will review all submissions and finalise its recommendations to the European Commission by 30 November.

Our analysis of the proposed revisions underlines that, while the revised standards preserve the core integrity needed to meet CSRD requirements and uphold the EU’s 2050 climate neutrality target, the changes represent the maximum possible simplification.

Read our full analysis here.

Spotlight on the CSDDD and Transatlantic Trade

Finally, the CSDDD is back in focus following the new EU–US Trade Framework Agreement announced at the end of August. We will continue to monitor developments closely and keep you updated on what they could mean for responsible business in Europe.

Get Ready for ESG Reporting

At Frank Bold Advisory, we help you navigate the current requirements of the European CSRD directive as well as the ongoing changes brought by the so-called Omnibus regulation. We guide you through the preparation of an effective ESG report in line with ESRS standards – whether you're just starting out or looking to improve existing processes.

We work with both major market players and smaller companies within supply chains – from initial analysis and selection of key indicators to final reporting.