The Directive (EU) 2026/470 of the European Parliament and Council, amending Directives 2006/43/EC, 2013/34/EU, (EU) 2022/2464, and (EU) 2024/1760 regarding certain corporate sustainability reporting requirements and due diligence requirements in sustainability, was published in the EU Official Journal on 26 February 2026.
This legislation, part of the Omnibus I package, aims to simplify the CSRD and CS3D directives by reducing administrative burdens and limiting the transfer of obligations to smaller suppliers.
The scope of the CSRD is narrowed by raising the thresholds to include companies with more than 1,000 employees and annual net revenue exceeding EUR 450 million.
The scope of CS3D is also reduced by raising the thresholds to companies with more than 5,000 employees and annual revenue exceeding EUR 1.5 billion.
A key change is the abolishment of the requirement to adopt a transformation plan for climate change mitigation. The updated rules also remove the harmonized EU liability regime.
For the incorrect application of the rules, businesses will be held liable at the national level, with a new maximum penalty set at 3% of the company’s global annual turnover.
The deadline for Member States to transpose CS3D into national law is extended to 26 July 2028, with companies required to comply with the new measures by July 2029.
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