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

PA_Legapp

SHORT JUSTIFICATION

The Corporate Sustainability Reporting Directive (CSRD) requires large companies, listed small and medium-sized companies, and parent companies of large groups to report certain sustainability information.

This reporting must follow standards that are to be adopted by the Commission through delegated acts. A first general set of such standards was adopted by the Commission in July 2023. A second sector specific set of standards is scheduled to be adopted by June 2024.

As part of its competitiveness agenda, the Commission has committed to simplify reporting requirements for companies. The Commission has therefore proposed to postpone the adoption of the second set of standards under the CSRD by two years. This would mean these standards are adopted in June 2026 instead of June 2024, as currently foreseen.

The rapporteur is of the opinion that this postponement will give companies necessary breathing space while ensuring the proper and full implementation the new sustainability requirements under the CSRD. No amendments to the Commission’s decision are therefore proposed.

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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.