Delegated Regulation postponing ESRS disclosure requirements for wave one companies published in OJ

Delegated Regulation 2025/1416 amending Delegated Regulation (EU) 2023/2772 has been published in the Official Journal of the European Union. Adopted on 11 July, it introduces targeted amendments, referred to as "quick fix" amendments, to defer the application of specific European sustainability reporting standards (ESRS) under the Omnibus I sustainability package, to ease reporting burdens and provide legal certainty for companies already reporting for financial year 2024 ("wave one" companies). The amendments allow these companies to continue omitting certain disclosures for financial years 2025 and 2026. Additionally, larger wave one companies (with over 750 employees) will now benefit from the same phase-in provisions previously reserved for smaller entities. The amendments address gaps left by the "stop-the-clock" Directive, which deferred reporting obligations for wave two and three companies but excluded wave one. The Regulation applies retrospectively from financial years starting on or after January 1, 2025 and entered into force on November 13.

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