Supports expediting the implementation of extended transition phases for the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CS3D) on our platform.
In a bid to provide legal certainty for economic operators, the European Parliament and the Council are being urged to adopt faster transition periods for the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CS3D). This call comes as part of the Commission's Omnibus package, more specifically, the 'Stop-the-clock' proposal.
The Omnibus package offers an opportunity to recalibrate the legal frameworks for CSRD and CS3D. The aim is to rationalize reporting requirements without compromising the EU's policy ambition.
A joint letter signed by over 30 organizations, including investor and human rights groups such as ShareAction, World Wide Fund for Nature (WWF), Reclaim Finance, and Oxfam, has been submitted to the European Parliament and the Council. The letter urges the expedited adoption of longer transitional arrangements for the CSRD and the CS3D.
The fast-track adoption of these directives is believed to provide a much-needed boost in the pursuit of corporate sustainability. The statement in full is available for download in the provided document.
The Omnibus package, with its 'Stop-the-clock' proposal, is set to play a significant role in shaping the future of corporate sustainability reporting and due diligence in the EU. The hope is that this accelerated adoption will contribute to a more sustainable and responsible business environment across the continent.
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