The European Council has come out in support of the Omnibus Package proposed by the European Commission in February.
The package seems to be essentially an effort to codify the woke ideology, the theory the white devil invented evil and therefore we must end all white devil institutions, including Christianity and the sex binary, into their market institutions. From an American perspective, this is good news as the adoption will assure Europe will not be a competent competitor technologically or economically in a relatively short period of time.
European Council and European Parliament jump on the Omnibus – JD Supra
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Excerpt:
In its meeting of March 20, 2025, the European Council expressed its support of the so-called Omnibus Package proposed by the European Commission on February 26, 2025.
The Omnibus Package includes significant changes to EU ESG laws with a particular focus on the Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CS3D).
The Package contains a “Stop-the-Clock” proposal and a substantive proposal providing for changes to the CSRD and the CS3D…
It is equally promising that Roberta Metsola, President of the European Parliament, also stated that the Parliament is “set to adopt an urgency procedure” to adopt the “Stop-the-Clock”-Proposal in two weeks and that the work on the amendments to the CSRD and CS3D will start in April….
This is the summary of the current Omnibus Proposal given by Grok 3 in response to the query that begins below and leads to Grok 3’s response:
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Corporate Sustainability Reporting Directive (CSRD) Amendments
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Reduced Scope: The proposal significantly narrows the number of companies subject to CSRD reporting requirements by approximately 80%. It raises the threshold for applicability to companies with over 1,000 employees and either a turnover exceeding €50 million or a balance sheet total above €25 million. Smaller companies (previously those with 250+ employees meeting certain financial thresholds) are largely exempted unless they voluntarily opt in.
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Delayed Timelines: Reporting deadlines for certain groups of companies are pushed back by two years. For example, large undertakings and parent companies of large groups originally set to report in 2026 (for the 2025 financial year) would now start in 2028 (for 2027). Listed SMEs would begin in 2029 (for 2028). Public-interest entities with over 500 employees remain on the original schedule, reporting in 2025 for 2024.
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Simplified Standards: The European Sustainability Reporting Standards (ESRS) will be revised to reduce the number of data points and align more closely with other regulations, though “double materiality” (assessing both financial and societal/environmental impacts) remains intact. The requirement for “reasonable assurance” on sustainability statements is dropped, retaining only “limited assurance.”
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Corporate Sustainability Due Diligence Directive (CSDDD/CS3D) Adjustments
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Extended Deadlines: The transposition deadline for Member States to adopt CSDDD into national law is delayed by one year to July 26, 2027, with the first phase of compliance for the largest companies starting July 26, 2028. Guidelines from the Commission to assist companies are advanced to July 2026.
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Harmonization Efforts: The proposal seeks greater consistency across EU Member States on due diligence obligations (e.g., identifying and mitigating environmental and human rights risks in value chains), though Member States can still impose stricter rules if desired.
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Scope Refinement: Obligations are clarified to focus on direct operations and upstream supply chains, with downstream financial sector requirements deferred for further review.
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EU Taxonomy Regulation Updates
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Materiality Threshold: A 10% “de minimis” threshold is introduced, exempting companies from assessing Taxonomy eligibility and alignment for activities below 10% of turnover, capital expenditure (CapEx), or operating expenditure (OpEx).
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Simplified Reporting: Amendments to the Taxonomy Disclosure Delegated Act and related Climate and Environmental Delegated Acts aim to streamline reporting templates, potentially reducing data points significantly (e.g., up to 89% for some financial institutions). A public consultation on these changes ran until March 26, 2025, with adoption expected in Q2 2025.
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