COUNCIL AND PARLIAMENT AGREE ON DELAYING SECOND SET OF ESRS
On 7 February, negotiators from the Parliament and the Council reached a provisional deal on an amendment to the Corporate Sustainability Reporting Directive (CSRD) delaying the adoption of sector-specific standards by two years.
The original CSRD mandated the Commission to adopt the second set of European Sustainability Reporting Standards (ESRS) concerning sector-specific information including transport by June 2024. The text agreed by the co-legislators postpones the adoption of the new standards to 30 June 2026. This will allow companies to focus on the implementation of the first set of ESRS. It will also allow more time to develop sector-specific sustainability standards as well as standards for specific third-country companies. The date of application for third country companies will remain the financial year 2028, as set out in the CSRD.
The provisional agreement reached with the European Parliament now needs to be endorsed and formally adopted by both institutions, before its publication in the Official Journal of the EU.
Source: Council of the EU