Home Maria WALSH

This proposal covers the so-called “Stop-the-Clock” initiative, aimed at immediately postponing the application of the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD). This forms part of the Omnibus Simplification Package, launched on 26 February 2025 by the Commission to reduce regulatory burdens and improve EU competitiveness. The package includes three legislative proposals: (1) the immediate postponement of CSRD and CSDDD implementation, (2) amendments to their scope and obligations, and (3) revisions to certain Taxonomy Regulation delegated acts.
The Commission has proposed to postpone the deadlines for these Directives for companies not yet subject to reporting obligations and aims to narrow the scope, reduce audit and assurance costs, and limit trickle-down effects on SMEs. A similar “SME shield” is proposed under the CSDDD to reduce burdens on smaller companies, lower liability risks, and better align climate-related requirements with the CSRD. Given the administrative burden these Directives have caused on our SMEs in Ireland I voted in favour of this package.