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European Commission - Daily News Daily News 03 / 07 / 2026 Brussels, 3 July 2026 Commission adopts revised sustainability reporting standards to reduce administrative burdens for EU businesses while maintaining high-quality disclosures The European Commission has today adopted revised European Sustainability Reporting Standards (ESRS) and a voluntary reporting standard for smaller companies . ESRS cover environmental...
European Commission - Daily News Daily News 03 / 07 / 2026 Brussels, 3 July 2026 Commission adopts revised sustainability reporting standards to reduce administrative burdens for EU businesses while maintaining high-quality disclosures The European Commission has today adopted revised European Sustainability Reporting Standards (ESRS) and a voluntary reporting standard for smaller companies . ESRS cover environmental, social, and governance issues, including climate change, biodiversity and human rights. They provide information for investors and other stakeholders to understand the sustainability-related risks to which companies are exposed and their impacts on people and the environment. The revised standards adopted today are designed to reduce administrative burdens for EU businesses while maintaining high-quality disclosures. They are part of the Omnibus I simplification package , which streamlines sustainability reporting in the EU and reduces the number of companies in scope of the Corporate Sustainability Reporting Directive (CSRD). The revised ESRS are shorter and clearer, add new flexibilities, and streamline key processes. They reduce the number of mandatory datapoints by over 60% and the total number of datapoints by over 70%. These changes are expected to reduce reporting costs by more than 30% per company, in line with the Commission's target of reducing burdens associated with reporting requirements by 25%. The revised standards take into account the technical advice from EFRAG (previously known as European Financial Reporting Advisory Group), which was informed by stakeholder input gathered in spring 2025 and a public consultation on EFRAG's drafts in summer 2025. The Commission is proposing targeted adjustments to further ease the reporting burden without undermining the CSRD's policy objectives and sought stakeholders' views in a Have Your Say consultation this spring. The voluntary reporting standard provides a single, proportionate reference framework for sustainability reporting by smaller companies outside the scope of the CSRD. It will make it easier for companies not covered by the CSRD to respond to specific requests for sustainability information from large financial institutions and companies. It also establishes a value chain cap, meaning that companies subject to the CSRD cannot require companies in their value chains to provide more information than what is covered by the voluntary standard. The delegated act revising the ESRS and the delegated act establishing the voluntary reporting standard will now be transmitted to the European Parliament and the Council of the EU for scrutiny. The measures will apply once the scrutiny period of 2 months, which can be prolonged by a further 2 months, is over. (For more information: Siobhan McGarry– Tel.: +32 2 296 47 98; Saul Louis Goulding – Tel.: +32 2 296 47 35) Commission clears acquisition of Tages and 21 Invest by Edizione The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of Tages S.p.A. and 21 Invest S.p.A. by Edizione S.p.A., all of Italy. The transaction relates primarily to private equity investment and management. The Commission concluded that the notified transaction would not raise competition concerns, given the companies' limited market positions resulting from the proposed transaction. The transaction was partially referred to the Italian competition authority pursuant to Article 4(4) of the EU Merger regulation, with respect to the markets for the supply of on- and off-airport parking facilities in Italy. The notified transaction was examined under the simplified merger review procedure. More information is available on the Commission's competition website , in the public case register under the case number M.12308 . (For more information: Ricardo Cardoso – Tel.: +32 2 298 01 00; Paula Clara Ritter-Moschütz – Tel.: +32 2 296 40 83) ANNOUNCEMENTS Commissioner Šuica travels to Cairo to strengthen euro-mediterranean parliamentary cooperation and youth engagement Tomorrow and Sunday, Commissioner for the Mediterranean Dubravka Šuica will be in Cairo, Egypt, to participate in the 10th Speakers' Summit of the Parliamentary Assembly of the Union for the Mediterranean (PA-UfM). The Summit brings together the elected representatives and senior officials from the Euro-Mediterranean region and reaffirms the commitment to strengthening dialogue and cooperation across the Mediterranean. Commissioner Šuica will seek to advance regional cooperation, foster youth engagement, and support the implementation of the Pact for the Mediterranean . On the margins of the Assembly, she will meet the new acting Secretary General of the PA-UfM Fadi Hajali. The Summit will mark the formal handover of the PA-UfM Presidency from Egypt to the European Parliament, following a successful year under Egypt's chairmanship. The mission takes place at an important moment in EU-Egypt relations. Following the successful 11 th EU-Egypt Association Council on 15 June, it will help maintain the positive political momentum and advance the implementation of the Strategic and Comprehensive Partnership . After the meeting with Egyptian Minister for Foreign Affairs, Badr Abdelatty, Commissioner Šuica will hold a press point that can be followed on EBS live at 14:00. This meeting is an opportunity to take stock of progress on key bilateral priorities, including investment, migration, regional cooperation and the Pact for the Mediterranean, while reiterating the importance the EU attaches to human rights, inclusive development and continued reforms. On Sunday Commissioner Šuica will participate at the Anna Lindh Foundation Youth Conference Mediterranean Youth in Action . The event will highlight youth engagement in policymaking in the region. Commissioner Šuica will reiterate her commitment on including young voices in the Pact for the Mediterranean, notably through the establishment of a Youth Parliamentary Assembly, a flagship initiative under the Pact. During the visit, the Commissioner Šuica will also meet Chief Commissioner Dr Ali Shaath of the National Committee for the Administration of Gaza (NCAG) - a transitional body established in January 2026 under the Gaza Peace Plan - to discuss ongoing cooperation on Gaza early recovery. (For more information: Guillaume Mercier – Tel.: +32 2 298 05 64; Luca Dilda – Tel.: +32 2 295 21 53) Tentative agendas for forthcoming Commission meetings Note that these items can be subject to changes. Upcoming events of the European Commission Eurostat press releases Calendar items of the President and Commissioners Individual calendars of the President and Commissioners MEX/26/1515
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