Reporting Intelligence – June 2025
Our Reporting Intelligence pages are a treasure trove of insightful reads, we’ve done the hard work, so you can stay informed without the hassle.
This month, we explore the EU Committee’s proposal to cut sustainability reporting requirements, CDP’s strategic restructuring, survey responses to the EU Commission’s “Omnibus” and the FRC’s new 2026 stewardship code.
EU Parliamentary Committee outpaces the EU Commission, calling for significant CSRD scope reductions
The European Parliament’s Economic and Monetary Affairs Committee (ECON) has drafted amendments proposing even deeper cuts to EU sustainability regulations than the Commission’s Omnibus package. The draft would raise Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CSDDD) thresholds to 3,000 employees and €450 million revenue, compared to the Commission’s proposed 1,000 employees.
This would remove far more than the already proposed 80% of companies from sustainability reporting requirements.
The amendments also limit mandatory European Sustainability Reporting Standards’ datapoints to 100 and voluntary ones to 50, while removing CSDDD climate transition plan obligations. The proposals highlight Parliament’s struggle to reach a consensus on the Omnibus package.
Access the full amending directive here
CDP’s new structure: accelerating impact through enhanced disclosure
CDP (formerly Carbon Disclosure Project) has announced a strategic restructuring that may reduce its workforce by around 20%, while unveiling a new strategy focused on reducing sustainability reporting burdens for companies. The organisation, which operates a global environmental disclosure system covering climate, forests and water security, saw record participation in 2024 with over 22,700 companies disclosing data – an 8% increase from the previous year.
The restructuring aims to create a “leaner, technology and partner-enabled CDP” while addressing economic challenges. The updated strategy prioritises streamlining disclosure by reducing burden, duplication and manual data entry, alongside delivering sector-specific insights and improving data access for financial markets and policymakers.
Read the full press release here
Only 25% of executives support the EU’s Omnibus proposals to cut CSRD sustainability reporting requirements
A recent survey of over 1,000 European companies released by professional network #WeAreEurope in partnership with the business school HEC Paris found that most companies in Europe are not in favour of the EU Commission’s “Omnibus” proposals to reduce Corporate Sustainability Reporting Directive (CSRD) requirements. A total of 61% of respondents reported being somewhat or very satisfied with the CSRD in its current form, while only 17% reported being dissatisfied.
The Omnibus package proposes raising the employee threshold from 250 to 1,000 and removing 80% of companies from reporting requirements.
However, only 25% of executives support these proposals, with over half dissatisfied. Companies cite CSRD’s main strengths as improving ESG transparency (89%) and strengthening sustainability strategies (89%). Key weaknesses include insufficient guidance (69%) and excessive costs for smaller companies (63%). Even companies potentially exempted under Omnibus prefer a 500-employee threshold over the proposed 1,000-employee limit.
Access the full survey findings here
The Financial Reporting Council publishes the UK Stewardship Code 2026
Following consultation with over 1,500 stakeholders. The Financial Reporting Council (FRC) has published the UK Stewardship Code 2026, an updated set of principles which offers a framework for reporting that demonstrates high-quality stewardship to support economic growth and investment. The new code will be effective from January 1, 2026. The updated framework aims to support long-term sustainable value creation while reducing reporting burdens by 20-30%.
Key changes include an enhanced stewardship definition focused on value creation, fewer principles with shorter reporting prompts, flexible reporting structures, and targeted principles for different signatory types, including new coverage for proxy advisors and investment consultants.
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