The European Commission’s first Omnibus package of proposals aims to reduce sustainability reporting and due diligence requirements. Only the largest companies would report under the European Sustainability Reporting Standards (ESRS); a subset of those companies would continue to report under the EU Taxonomy. 

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      This table provides an overview of how the proposals would affect different companies.

      diagram

      What’s new?

      Reporting templates simplified; materiality concept introduced

      Reducing the reporting burden for companies

      Limiting ESRS and EU Taxonomy requirements to the largest companies

      The KPMG view

      KPMG responds to EFRAG’s call for feedback

      What do they mean for your company?

      More resources

      Impact of EU sustainability reporting on US companies

      EU Omnibus in the US (podcast)