On 24 January, the European Parliament approved a proposal to delay key aspects of the Corporate Sustainable Reporting Directive (CSRD) by 2 years, including the adoption of standards for companies to provide sector-specific sustainability disclosures and for sustainability reporting from companies outside of the EU.
The proposal was made by the EU Commission in October. It highlighted the postponement of the deadline for the adoption of sector-specific European Sustainability Reporting Standards (ESRS) as one of the key actions listed. The ESRS sets out the rules and requirements for companies to report sustainability-related impacts, opportunities and risks under the EU’s CSRD
Following the vote, the proposal will move for approval by the Parliament plenary to form its negotiating position with the EU Council.
