On Friday 11 July, the European Commission presented a targeted amendment to postpone the European Sustainability Reporting Standards (ESRS) by one year, as part of the ‘Stop -the-clock’ directive, which is part of the ‘Omnibus I’ package (see EUROPE B13621A30).
Under current legislation, companies reporting for the 2024 financial year may exclude information on, among other things, the expected financial impact of certain sustainability risks. The proposed amendment, which applies...