Reporting obligations

The European Parliament’s Committee on Legal Affairs has requested a timely review of the European Commission’s legislative proposal for an Omnibus Directive, which seeks to address burdensome and overlapping reporting requirements in three EU laws: the Corporate Sustainability Reporting Directive (CSRD), the Corporate Sustainability Due Diligence Directive (CSDDD), and the EU Taxonomy Regulation. These three laws comprise the main elements of the EU’s sustainability reporting and due diligence framework. The problem is real. A new ECB study found that not only are these laws burdensome in terms of environmental reporting, but they also constitute a serious impediment to sustainability investments.

Apostolos Thomadakis is Research Fellow and Head of the Financial Markets and Institutions Unit at CEPS, and Head of Research at ECMI. J. Scott Marcus is Associate Senior Research Fellow at CEPS.