European Union finalises Omnibus 1 CSRD and CS3D amendments

The European Parliament and Council have formally approved a provisional political agreement on changes to the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CS3D or CSDDD) under the Omnibus I package. It follows a commitment by the European Commission to reduce reporting burdens, enhance competitiveness, and ensure greater proportionality in sustainability reporting requirements.