PwC's accounting podcast Sustainability now: EU Omnibus in motion – June 2025 update
Jun 19, 2025
Diana Stoltzfus, a regulatory expert and partner at PwC, shares insights on the evolving EU Omnibus package and its implications for sustainability regulations. The conversation highlights recent developments in the legislative process, including feedback from businesses and leaked information on proposed changes. Key topics include the potential impacts of the European Sustainability Reporting Standards and discussions surrounding disclosure simplification. Stoltzfus also addresses challenges faced by smaller firms and the importance of double materiality assessments for long-term sustainability.
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Debates on Assurance and Providers
- The European Parliament debates on assurance range from removing reasonable assurance to reinstating it by 2030.
- Some political parties want smaller firms with less than 10% market share to provide assurance, raising capacity concerns.
Employee Threshold & Sector Guidelines
- The employee threshold for CSRD scope is controversial, with proposals ranging from 500 to 3,000 employees.
- European Council leaked draft supports 1,000-employee threshold and sector-specific guidelines, replacing standards.
Business Reaction to CSRD and Omnibus
- A survey shows 80% support CSRD but more negative views on the omnibus proposal, especially the 1,000-employee threshold.
- Regional differences appear, with Eastern Europe more concerned than Nordic and Western countries.