The term “omnibus” has become entrenched in Brussels jargon, with the Commission presenting at least 10 additional simplification bills on subjects such as data protection, finance, chemical usage, agriculture, and defense.
Less paperwork
The agreement reached by negotiators from the European Parliament, EU Council, and the Commission alters two key EU green legislation pieces: The Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD).
Originally, the rules required businesses of all sizes to gather and publish data on their greenhouse gas emissions, water usage, the impact of temperature increases on working conditions, chemical leaks, and whether their global suppliers adhere to human rights and labor laws.
Now, reporting obligations apply only to companies with over 1,000 employees and €450 million in net turnover, while supply chain due diligence applies only to the largest firms, with over 5,000 employees and at least €1.5 billion in net turnover.
They are also not required to adopt transition plans detailing how they intend to modify their business model to achieve greenhouse gas reduction targets.
Crucially, an EU-level legal framework enabling civilians to hold businesses accountable for supply chain impacts on human rights or local ecosystems has been eliminated.
MEPs will have another opportunity to decide on the deal with a final vote scheduled for Dec. 16, allowing lawmakers the chance to reject the agreement if they feel it deviates too far from their original stance.
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