In a letter sent to our Union from the Ministry of Trade"s Directorate General for International Agreements and the European Union, the European Commission provided information about the "quick fix" Regulation amendment, which is based on the delegation of authority for companies under corporate sustainability reporting obligations.

With the new regulation, first-wave companies are exempted from the obligation to report certain information, such as the projected financial impacts of certain sustainability risks, in fiscal years 2025 and 2026, as in fiscal year 2024. Additionally, for first-wave companies with more than 750 employees, most of the gradual transition provisions applicable to companies with up to 750 employees will now apply.

The main reason for this regulation is that first-wave companies were not included in the "Suspension Directive" published as part of the Omnibus I package adopted by the European Commission in February 2025, which postponed the reporting obligations of "second-wave" and "third-wave" companies, starting from the 2025 and 2026 fiscal years, by two years.

The Commission is conducting a general revision of the ESRS standards. This revision aims to reduce data requirements, clarify ambiguous provisions, and increase harmonization with other legislation. This revision is expected to be completed by the 2027 fiscal year.

In this context, a summary of the regulation amendment based on the "Quick Solution" delegation of authority for companies under corporate sustainability reporting obligations is presented in the Annex. Detailed information on this subject can be found on the European Commission"s official website at https://finance.ec.europa.eu/publications/commissionadopts-quick-fix-companies-already-conducting-corporate-sustainability-reporting_en.