On 13th October, the Parliament's JURI Committee adopted its position on the sustainability reporting Omnibus (Omnibus I). The position still needs to be formally approved in Parliament during next week's plenary. Once fully adopted, the Parliament's position will serve as basis for interinstitutional negotiations with the Council, before a final compromise agreement can be reached.

Upon a preliminary look, the position adopted seems to be in line with a preliminary compromise agreement that was reached between the EPP, S&D, Renew and the Greens.

MORE DETAILS

To reach this preliminary compromise, Rapporteur Warborn (EPP, SE) obtained support from the S&D, Renew and Green party leaders after suggesting it would otherwise seek the support of far-right parties with a different compromise which included a narrower scope. As a reaction to the agreement, which only gained support to avoid the deal with the far-right going through, Shadow Rapporteur Wolters (S&D, NL) resigned from her role as Omnibus negotiator.

Below is a summary of the current compromise agreement:

Risk-based approach

• Risk-based approach retained but with a value chain cap established at 5000 employees.

Scope:

• CSRD: 1000 employees with a EUR 450 million net turnover.
• CSDDD: 5000 employees with EUR 1.5 billion turnover.

Civil liability:

• Under Member States' national law jurisdiction.
• Possible review clause for 2030.

Climate transition plans:

• Removal of the requirement for companies to implement climate transition plans

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NEXT STEPS‍

FESI will inform members about the outcome of the JURI Committee vote expected on 13 October and provide a summary of the text if more information becomes available. If the JURI Committee approves the agreement next week, the Parliament will also have to formally approve it during the next Plenary session on 20-23 October before interinstitutional negotiations can start.

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