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DRAFT REPORT (COM(2023)0596 – C90386/2023 – 2023/0368(COD))

On the proposal for a decision of the European Parliament and of the Council on 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

JURI-PR-757140

Committee on Legal Affairs · Rapporteur: Axel Voss

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✦ In short · AI summary of this text, generated 26 Sept 2026

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The draft report by the Committee on Legal Affairs adopts Parliament's first-reading position taking over the Commission proposal to amend Directive 2013/34/EU. It postpones the adoption of the second set of sustainability reporting standards by two years, to 30 June 2026. The rapporteur supports the postponement so companies can digest the first set of standards and focus on implementation, and so EFRAG and the Commission have time to develop effective and proportionate standards. The report notes that reporting requirements burden companies, mainly SMEs, and that the Commission aims to reduce such burdens by 25% without undermining policy objectives.

Committee position. The rapporteur proposes that Parliament adopt its first-reading position taking over the Commission proposal, which postpones the adoption of the second set of sustainability reporting standards by two years to 30 June 2026.

Key points

  1. Parliament adopts its first-reading position taking over the Commission proposal to amend Directive 2013/34/EU on time limits for sustainability reporting standards.
  2. The Commission proposal postpones the adoption of the second set of sustainability reporting standards by two years, to 30 June 2026.
  3. The second set covers sector-specific standards under Article 29b(1) and standards for certain non-EU companies with business in the Union under Article 40b.
  4. The first set of general standards applicable to all undertakings under the CSRD scope was adopted by the Commission on 31 July 2023.
  5. The rapporteur shares the assessment that companies need more time to digest the first set of standards and focus on their proper implementation.
  6. The extra time would allow EFRAG and the Commission to reflect on effective and proportionate second-set standards, including through consultations with stakeholders.
  7. The report notes that reporting requirements burden companies, mainly SMEs, and that the Commission committed to reduce such burdens by 25% without undermining policy objectives.
  8. The report states that EU companies have faced challenges and bureaucratic burden during the COVID pandemic and the war in Ukraine, and that postponing adoption by two years will help them recover without harming sustainability reporting objectives.
  9. Parliament calls on the Commission to refer the matter to Parliament again if it replaces, substantially amends or intends to substantially amend its proposal.

Who is affected

  • Companies under the CSRD scope, which gain two more years to prepare for the second set of reporting standards.
  • SMEs, which face extra reporting burden that the Commission aims to reduce by 25%.
  • Certain non-EU companies with business in the Union, covered by standards under Article 40b.
  • EFRAG and the Commission, which get more time to develop the second set of standards.

Figures and deadlines

  • 31 July 2023: date the Commission adopted the first set of general sustainability reporting standards.
  • 30 June 2024: date by which the second set of standards was set to be adopted.
  • 30 June 2026: postponed date for adoption of the second set of standards.
  • 25%: reduction of reporting burdens the Commission committed to achieve.
  • two years: length of postponement of the adoption of the second set of standards.

Legal basis: Article 294(2) and Article 50(1) of the Treaty on the Functioning of the European Union.