EU Commission Offers Breathing Room for Companies Leading on Sustainability Reporting
The European Commission has stepped in with a timely adjustment to ease pressure on companies already navigating the EU’s sustainability reporting rules. On July 11, the Commission adopted a “quick fix” to the first set of European Sustainability Reporting Standards (ESRS), giving a break to companies that began reporting for financial year 2024, commonly referred to as “wave one” reporters. These companies will now be able to skip certain additional disclosures for two more years, covering financial years 2025 and 2026.