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illuminem summarizes for you the essential news of the day. Read the full piece on POLITICO or enjoy below:
🗞️ Driving the news: The European People’s Party (EPP) is pushing for an urgent vote in the European Parliament next week on a bill that would amend EU green corporate disclosure rules
• The omnibus legislation, proposed by the European Commission, seeks to temporarily suspend certain reporting obligations while broader negotiations continue
• EPP argues that fast-tracking the vote will provide businesses with much-needed clarity
🔭 The context: The bill would amend key European Green Deal laws, including the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD)
• These regulations require large companies to disclose environmental impact data and monitor supply chains for human rights and environmental violations
• The current reporting timeline phases in smaller companies between 2026 and 2028, but the proposed amendments could delay or alter these obligations
🌍 Why it matters for the planet: A delay in sustainability reporting could weaken corporate accountability on climate and social issues, potentially slowing down progress on the EU’s Green Deal
• On the other hand, businesses argue that suspending complex reporting rules could reduce compliance costs and regulatory burdens
• The outcome of this vote will shape corporate climate transparency in the coming years
⏭️ What's next: If approved, the fast-track procedure could lead to a vote on the first part of the bill as early as next week or by April at the latest
• The broader negotiations on EU sustainability laws will continue, determining whether reporting rules will be permanently adjusted
• The decision will also influence the European business landscape ahead of upcoming EU elections
💬 One quote: “Companies urgently need clarity and legal certainty regarding whether they must continue preparing for the implementation of the burdensome reporting obligations.” — Tomas Tobé, EPP Vice President
📈 One stat: The CSRD and CSDDD rules currently apply to large firms, with smaller companies facing compliance deadlines in 2026, 2027, and 2028
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