Due Diligence: Ready, steady, reset

Leaks suggest the EU’s upcoming “Omnibus” proposal will consolidate corporate due diligence laws but limit obligations to large companies and first-tier suppliers. Legislative hurdles remain

Key points:  The European Commission is preparing an "Omnibus" proposal to consolidate and streamline CSRD, CSDDD, and Taxonomy legislation.  Leaked information suggests the proposal may limit obligations to large companies and first-tier suppliers.

Why this matters:  The consolidation of these regulations could potentially simplify compliance for businesses. Changes in the scope of application may affect which companies are subject to due diligence obligations.

What might happen next: The official text of the "Omnibus" proposal will be published and will need to go through the legislative process.  Considerable opposition and debate are expected during this process.

You should:  Closely follow our alerts that monitor the development of the "Omnibus" proposal and its potential impact on your business. Continue to comply with existing laws while preparing for potential changes.