CSRD stands for Corporate Sustainability Reporting Directive. It is the EU framework requiring in-scope companies to report on sustainability impacts, risks, and opportunities using the ESRS standards.
The European Commission’s Omnibus simplification initiative is expected to reduce reporting burden by narrowing the scope to the largest companies and simplifying disclosure requirements, while keeping the core transparency and accountability goals of the CSRD. As part of this process, the ESRS are being revised and simplified to make reporting more proportionate while maintaining the CSRD’s core transparency objectives.
