The past few years have seen enormous growth in corporate sustainability reporting with an array of mandatory requirements and voluntary reporting standards emerging in quick succession. The implications crossed borders as policymakers grappled with the need to address global problems like climate change and ecosystem destruction while ensuring economic policies promoted a financially competitive business sector. Pursuing both at once would advance thriving and equitable societies.  

The latest tilt in this balancing act is towards business growth and competition, and a new proposal has emerged from the European Commission that seeks to simplify and lighten the sustainability reporting burden for companies. The proposed Omnibus package released on February 26, 2025 pares back the expansive requirements of the Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CSDDD).

Many U.S. companies doing business in the EU had pivoted their sustainability reporting strategies to accommodate the mandated disclosures for non-EU based companies meeting certain thresholds of the CSRD and CSDDD. Should those companies pivot again?

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