A new legal briefing by Frank Bold unpacks the new restrictions on information requests to business suppliers following the Omnibus 1 revisions to the CSRD and CSDDD, and explains the practical implications for companies.
As part of the sustainability reporting and due diligence requirements under the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD), companies need to request sustainability-related information from their value chain partners.
The Omnibus 1 Directive introduced restrictions on how and when such information requests can be made in order to protect suppliers from disproportionate requests. These consist of the value chain cap under the CSRD and the limits on information requests under the CSDDD. For companies in scope of these directives, it is important to understand the new restrictions.
The publication also points to legal uncertainties resulting from the European Commission’s proposed Voluntary Standard when it comes to due diligence scoping, GHG data and climate risk information and proposes practical steps for companies to preserve effective supply chain management while remaining fully compliant with the caps.
If you have any questions about the briefing, please get in contact with Senior Policy Officer Julia Otten at julia.otten@frankbold.org.
European companies can now take a look at the draft sustainability reporting standards they will report against in the coming years. The drafts were developed by the EFRAG Project Task Force on EU Sustainability Reporting Standards, with the participation of two Frank Bold representatives - Head of the Responsible Companies Section Filip Gregor, and Joanne Houston, from Frank Bold's Brussels office. Both experts will continue contributing to the development of the EU standards as members of the newly established EFRAG Sustainability Pillar.
As part of its strategy to implement the European Green Deal and the Action Plan on Financing Sustainable Growth, the European Commission presented its proposal for a Corporate Sustainability Due Diligence Directive (CSDDD).
Following months of negotiations in the European Parliament, the amendments to the CSRD proposal have been approved by the JURI committee this Tuesday 15th of March.
