The Members of the European Parliament (MEPs) have approved the delayed adoption of sector-specific European Sustainability Reporting Standards (ESRS) and those for non-EU companies under the Corporate Sustainability Reporting Directive (CSRD).
The EU Commission is now expected to adopt the sector-specific reporting standards by June 2026. Sector-specific ESRS will provide guidance to companies in specific sectors on how to disclose their impacts on people and the planet, such as biodiversity or human rights, as these impacts may differ between sectors. The delay is approved to give companies time and reduce the reporting burden. In the meantime, companies that are subject to the CSRD will be able to report on the basis of standardised disclosures (sector-agnostic standards).
In addition, with the insertion of the article Art. 40b of the CSRD stipulates that by 30 June 2024 the Commission shall adopt a delegated act supplementing the CSRD in order to provide for sustainability reporting standards for companies from third countries. With the approval of the MEPs, this date has now been brought forward to 2026.
You may find the press release here: https://www.europarl.europa.eu/news/en/press-room/20240122IPR17036/sustainability-reporting-meps-agree-with-later-adoption-of-standards