European sustainability legislation presents complex challenges for businesses. The Omnibus proposal should change this, according to the European Commission. The proposal aims to simplify the regulatory framework, reduce the administrative reporting burden and limit the trickle-down effect of these obligations onto smaller companies. Below, we discuss the Omnibus proposal’s key implications for the Corporate Sustainability Reporting Directive (CSRD), Corporate Sustainability Due Diligence Directive (CSDDD), Accounting Directive and Audit Directive.
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