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44 SMT007 MAGAZINE I MARCH 2026 F E AT U R E A RT I C L E BY D R . D I A N A R A D OVA N , G LO B A L E L ECT R O N I C S A S S O C I AT I O N An Update on the EU Sustainability Omnibus BACKGROUND INFORMATION The European Commission (EC) released its Omni- bus on Sustainability Reporting Proposal on Feb. 26, 2025, as part of its agenda to simplify EU sus- tainability legislation and reduce administrative burdens for companies while safeguarding the objectives of the EU Green Deal, including content and a timeline proposal. The initial "content" pro- posal amended key content-related provisions of: • The Corporate Sustainability Reporting Direc- tive (CSRD) • The Corporate Sustainability Due Diligence Directive (CSDDD) • The EU Taxonomy (EUT) Regulation The Global Electronics Association has consis- tently advocated for proposed content-related simplification measures regarding sustainabil- ity reporting in these three key policies. Read our position here. Amendments to the Carbon Border Adjustment Mechanism (CBAM) Regulation were also proposed. In a parallel process, the European Finan- cial Reporting Advisory Group (EFRAG) has been tasked by the EC with simplifying ESRS, includ- ing adjustments to Double Materiality Assessment (DMA) requirements. Following negotiations with the Council of the European Union, the European Parliament (EP) adopted the final legal text on Dec. 16, 2025, to be Figure 1: Omnibus on sustainability reporting timeline (top), and the current estimate of a simplified ESRS implementation timeline (bottom). Omnibus on Sustainability Reporting — Timeline Simplified ESRS Implementation Timeline (current estimate)