The European Financial Reporting Advisory Group (EFRAG) has published its 2025 Annual Review, offering a full run down of what could be described as a rollercoaster of a year in European corporate reporting.
The European Commission’s Omnibus I package, agreed by EU co-legislators on 9 December 2025, has substantially reshaped the scope and content of the Corporate Sustainability Reporting Directive.
After months of debate, the European Union has formally signed off on its much-discussed ‘Omnibus I’ package, completing the legislative process to simplify corporate sustainability reporting and due diligence requirements.
The European Parliament Legal Affairs Committee and the Council have now struck a provisional Omnibus I deal that again rewrites the scope of EU sustainability reporting and due diligence rules.
On Monday, our CEO John Turner presented in a panel presided over by XBRL International Vice Chair Mardi McBrien at the Corporate Disclosures 2025 conference. While the Omnibus negotiations continue, it is clear that companies reporting under CSRD will need to provide digital disclosures in due course.
The European Parliament has voted to significantly narrow the scope of the Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CSDDD).
On Wednesday the European Parliament unexpectedly rejected its negotiating mandate on the proposed “omnibus” bill aimed at simplifying corporate sustainability and due diligence rules across the EU. More delays, extended discussions seem inevitable. There is a potential for the bill to be reworked in unanticipated ways before a revised vote in November.
The European Commission has adopted a “quick fix” to the European Sustainability Reporting Standards (ESRS), aimed at reducing immediate pressures on wave one companies, meaning those already subject to corporate sustainability reporting for financial year 2024 onwards.
Earlier this month the European Commission adopted a package of simplifications to the EU ESG Taxonomy framework, designed to cut red tape and reduce administrative burden on companies.
The European Commission has published its fourth omnibus proposal, introducing a new category: ‘small mid-cap enterprises’ (SMCs). The aim? To support companies transitioning beyond SME status with continued simplified obligations, mirroring those already available to SMEs.
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