Client Alert: EU Parliament’s Nov. 13 Vote Slashes Corporate Sustainability Rules

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On November 13, the EU Parliament voted on the Omnibus, slashing corporate sustainability reporting and due diligence requirements.

The EU Parliament voted yesterday, November 13, to significantly reduce the reporting and due diligence requirements of major EU sustainability laws, including the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD).

Key points of the passed Omnibus: 

  • CSRD: In-scope company size increases from 250 employees to 1,750 employees and at least €450M in revenue. 

  • CSDDD: In-scope company size increases from 1,000 to 5,000 employees and revenues of over €1.5B. 

  • Elimination of climate transition plans: In-scope companies would no longer need to prepare a climate transition plan. 

  • Shifts due diligence requirements to focus primarily on the level of direct business partners. 

  • Significantly reduces the supply chain requirements. 

The legislation is not yet final. Negotiations between the European Parliament and the European Council will determine the final rules and timing. These negotiations are scheduled to begin next week, with the aim of finalizing the legislation by the end of the year. 

For questions regarding EU Omnibus contact:

Vicky Keramida, Ph.D.
CEO & Chief Technical Officer
KERAMIDA Inc.

Email Vicky at keramida@keramida.com

Anastasia Kyrmanidou, Ph.D.
Senior Manager, Sustainability
KERAMIDA Inc.

Email Anastasia at akyrmanidou@keramida.com