Governance & Compliance 1: EU Omnibus impacts UK sustainability reporting

In this first episode of this new mini-series, Ashurst colleagues Will Chalk and Becky Clissmann are joined by Falcon Windsor’s Claire Bodanis to explain the impact of the EU’s Omnibus package and how non-EU companies can best prepare for what’s coming.

Together, the trio describe the legislative landscape and where it’s headed, focusing on the Corporate Sustainability Reporting Directive (CSRD), Corporate Sustainability Due Diligence Directive (CS3D), and the EU Taxonomy. They highlight two amending directives from the EU Omnibus package which delay CSRD reporting and due diligence requirements.

This episode includes practical advice for companies to ascertain whether they remain within the scope of the CSRD. There's also discussion of how markets are reacting and whether or not the changes will simplify compliance and achieve genuine deregulation.

The episode also underlines the need for strategic preparation, ongoing monitoring of regulatory developments, and transparency in reporting.

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The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.