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By Gersende MASFAYON, Counsel and Aziza GILIJOVA, Legal Advisor, DLA Piper
Since its adoption in January 2023, the Corporate Sustainability Reporting Directive (CSRD) has sparked passionate debates in the EU. Its detractors highlight the administrative burden it imposes, which could lead to a loss of competitiveness for EU companies, especially small- and medium-sized enterprises (SMEs). In short, the CSRD is seen as a “bureaucratic delusion.”
As a response to these concerns, on 8 November 2024, European Commission President Ursula van der Leyen announced a proposal to consolidate EU sustainable finance regulations (including CSRD) into an “omnibus regulation.” It’s not yet clear where this proposal will lead or to what extent it will amend...
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