On 13 November 2025, the European Parliament voted in favour of the Omnibus package that was proposed by the European Commission (EC) in February 2025. The “omnibus” proposals are designed to boost EU competitiveness and prosperity and unlock additional investment capacity for businesses.
We wrote about the original proposal of the European Commission in the article Omnibus package: Changes in sustainability reporting.
The European Parliament amended the requirements in the European Commission’s original proposal – only entities employing on average over 1,750 employees (1,000 employees in EC’s proposal) and with a net annual turnover exceeding EUR 450 million (EUR 50 million in EC’s proposal) should be required to provide sustainability disclosures under the Corporate Sustainability Reporting Directive (CSRD). Only entities within this scope would also be required to provide sustainability reporting under the EU Taxonomy. It should be possible to exempt ultimate parent undertakings which are financial holding undertakings not involved in management activities from complying with reporting obligations.
The vote also included that the European Sustainability Reporting Standards (ESRSs) should be further simplified and reduced, requiring fewer qualitative details, and sector-specific reporting should become voluntary. Smaller entities would be protected from the reporting requirements of their large business partners, which would not be allowed to request more information than is set out in the Voluntary Sustainability Reporting Standard for non-listed small- and medium-sized enterprises (VSME standard).
Due diligence requirements under the CSDDD would apply only to large entities with more than 5,000 employees and a net annual turnover of over EUR 1.5 billion.
The European Parliament also wants the Commission to establish a digital portal for businesses with free access to templates, guidelines, and information on all EU reporting requirements, complementing the European Single Access Point.
Negotiations with EU governments, which have already adopted their position on the package in June 2025, will start on 18 November 2025, with the aim of finalising the legislation by the end of 2025.
We will see in what form the Omnibus package will ultimately be incorporated into our Accounting Act.
Text adopted by the European Parliament is available here.
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