Please find below a short overview of key elements from the JURI Rapporteur’s draft report on the Omnibus.

You can find a full analysis to download below with a comparison between the original text/Omnibus text/FESI position/Rapporteur’s position (the most aligned amendments are in dark green).

‍We are pleased to note that many of the changes proposed reflect FESI’s asks, as outlined in our position paper:

• Plausible information: Definition introduced, now clarified as objective, factual and verifiable

• Limited assurance: Standards reintroduced – to be developed by 1 October 2026
• Harmonisation: Member states are not allowed to introduce measures that diverge from the text
• CSRD/CSDDD alignment: CSRD and CSDDD scope is harmonised, both now cover ‘chain of activities’
• ESRS: Focus on avoiding double reporting
• SME shield: Possibility to go beyond VSME for information requests but only in specific circumstances

Other elements:

• Scope: Alignment of CSRD, CSDDD and Taxonomy scope to 3000 employees and net turnover of 450 million euro
• Risk based approach vs Tier 1: Risk-based approach applied to Tier 1 only
• Climate transition plans: Deletion of climate transition plan provision

Council’s 4th compromise text

In the meantime, the Council’s is currently discussing its own compromise text today. While this is not the final agreement, the text seems to be closer to the original Commission proposal. Notable changes from the proposal concern the following areas:

• Climate transition plans: Reintroduction of climate transition plans as a mandatory requirement.
• Risk based approach vs Tier 1: Risk based approach but with gradual assessment of risk. Companies allowed to focus on Tier 1 only for the first 24 months.
• Penalties: Reintroduction of penalties threshold as per original pre-Omnibus text

NEXT STEPS

FESI will keep monitoring legislative developments and will follow up with an analysis of the Council position once it has been discussed. We will also keep engaging with policy makers ahead of the deadline to propose amendments to the Rapporteur’s text, which has been set for 26 June.

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