![The Parliament and Council have reached a final agreement on the #Omnibus. Here are the main elements of the deal:
1) CSRD Scope: 1,000 FTE and €450mio net turnover - this is a dramatic 90% scope reduction.
2) Review Clause: Importantly, the agreement
"introduces a review clause concerning a possible extension of the scope for both CSRD and
CSDDD." This shows that policymakers have doubts about the severe scope reductions.
3) Climate Transition Plans: removed from CSDDD.
4) Due Diligence Approach I: The exclusive focus on tier-1 companies is removed. Firms should
"focus on the areas of their chains of activities where actual and potential adverse impacts are most likely to occur." No comprehensive mapping is needed any longer, only a scoping exercise.
5) Due Diligence Approach II: The agreement introduces lots of flexibility. When "adverse impacts [are] equally likely or equally severe in several areas, [firms] are given the ability to prioritise assessing adverse impacts which involve direct business partners." This is an indirect invitation to not address severe impacts - if an impact is severe, it must be addressed. This is the whole point...](https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:kfvqwkstbuelqxaayr4k6kul/bafkreigic3de32gc6qcji6csvjsacuvloofiuvskimy4lrahyls35b73s4)
The Parliament and Council have reached a final agreement on the #Omnibus. Here are the main elements of the deal: 1) CSRD Scope: 1,000 FTE and €450mio net turnover - this is a dramatic 90% scope reduction. 2) Review Clause: Importantly, the agreement "introduces a review clause concerning a possible extension of the scope for both CSRD and CSDDD." This shows that policymakers have doubts about the severe scope reductions. 3) Climate Transition Plans: removed from CSDDD. 4) Due Diligence Approach I: The exclusive focus on tier-1 companies is removed. Firms should "focus on the areas of their chains of activities where actual and potential adverse impacts are most likely to occur." No comprehensive mapping is needed any longer, only a scoping exercise. 5) Due Diligence Approach II: The agreement introduces lots of flexibility. When "adverse impacts [are] equally likely or equally severe in several areas, [firms] are given the ability to prioritise assessing adverse impacts which involve direct business partners." This is an indirect invitation to not address severe impacts - if an impact is severe, it must be addressed. This is the whole point...
6) CSDDD Transposition is pushed back by yet another year. Companies now have to comply by July 2029. Delay, delay, delay... 📆 This deal needs to be confirmed: 10 Dec (vote in Coreper II, Council); 11 Dec (vote in JURI, Parliament), 16 Dec (vote in plenary, Parliament). 👉🏼 With this deal it seems likely that the EPP will get the support of far-right political groups (which they formed an alliance with on this file). This deal confirms the disproportional, non-evidence based rollback of the #CSRD & #CSDDD. Seeing both regulations only as cost drivers and framing them as a competitive disadvantage may appease populist sentiments, but it is not a winning strategy for the future of Europe...
EU Logo, in the middle is written Omnibus Trilogue Deal • CSRD Scope: 1,000 employees & €450 net turnover • Climate Transition Plans: removed
Andreas #Rasche on #LinkedIn
This deal confirms the disproportional, non-evidence based rollback of the #CSRD & #CSDDD.
#Omnibus #EPP 🤝 #farright
www.consilium.europa.eu/en/press/pre...
