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OPINION (COM(2023)0596 – C90386/2023 – 2023/0368(COD))

On the proposal for a decision of the European Parliament and of the Council amending Directive 2013/34/EU as regards the time limits for the adoption of sustainability reporting standards for certain sectors and for certain third-country undertakings

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Committee on Economic and Monetary Affairs · Rapporteur: Jessica Polfjärd

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The Committee on Economic and Monetary Affairs gives its opinion on the Commission's proposal to postpone the adoption of the second set of sustainability reporting standards under the Corporate Sustainability Reporting Directive (CSRD) by two years, from June 2024 to June 2026. The rapporteur supports the postponement, saying it gives companies breathing space while ensuring full implementation of the new sustainability requirements. No amendments to the Commission's proposal are proposed, and the committee calls on the Committee on Legal Affairs to propose that Parliament adopt its position at first reading, taking over the Commission proposal.

Committee position. The rapporteur supports the Commission's proposal to postpone the adoption of the second set of sustainability reporting standards by two years, and proposes no amendments. The committee calls on the Committee on Legal Affairs to propose that Parliament adopt its position at first reading, taking over the Commission proposal.

Key points

  1. The CSRD requires large companies, listed small and medium-sized companies, and parent companies of large groups to report certain sustainability information.
  2. This reporting must follow standards adopted by the Commission through delegated acts.
  3. A first general set of standards was adopted by the Commission in July 2023.
  4. A second sector-specific set of standards is scheduled to be adopted by June 2024.
  5. As part of its competitiveness agenda, the Commission has committed to simplify reporting requirements for companies.
  6. The Commission has proposed to postpone the adoption of the second set of standards under the CSRD by two years, to June 2026 instead of June 2024.
  7. The rapporteur says the postponement will give companies necessary breathing space while ensuring proper and full implementation of the new sustainability requirements under the CSRD.
  8. No amendments to the Commission's decision are proposed.
  9. The Committee on Economic and Monetary Affairs calls on the Committee on Legal Affairs, as the committee responsible, to propose that Parliament adopt its position at first reading, taking over the Commission proposal.

Who is affected

  • Large companies, listed small and medium-sized companies, and parent companies of large groups, which must report sustainability information under the CSRD.
  • Companies that would face simplified reporting requirements under the Commission's competitiveness agenda.

Figures and deadlines

  • July 2023: the Commission adopted the first general set of sustainability reporting standards.
  • June 2024: the scheduled adoption date for the second sector-specific set of standards.
  • Two years: the proposed postponement of the adoption of the second set of standards.
  • June 2026: the new proposed adoption date for the second set of standards.