Sustainability now: EU Omnibus in motion – August 2025 update

Aug 14, 2025

Diana Stoltzfus, a leading Partner at PwC’s National Office, shares her insights on the latest advancements in EU sustainability regulations. Key topics include the recent amendments to the EU Taxonomy and extended deadlines for EFRAG revisions. She highlights critical changes for 'wave 1' reporters and the implications of the quick fix for compliance. The conversation delves into the complexities of the legislative process and the significance of stakeholder feedback as companies navigate these rapid developments in sustainability reporting.

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ADVICE

Use The Extended FRAG Comment Window

Use the extended FRAG timeline to submit thoughtful comments during the new 60-day consultation.
Expect FRAG to absorb feedback and deliver revised ESRS to the Commission by November 30th.

INSIGHT

Quick Fix Pauses New Wave 1 Burdens

The quick fix delegated act pauses new requirements for wave 1 and extends initial reliefs for two years.
It lets wave 1 reporters omit certain material disclosures for specific topics while keeping policy and target disclosures.

ADVICE

Review Which Disclosures You Can Omit

If you're a wave 1 reporter, review which biodiversity and value-chain disclosures you may now omit under the quick fix.
Maintain required policy, actions, targets and metrics while you reassess anticipated financial effects timing.

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Recent weeks have brought notable progress on the European Commission’s Omnibus package. In this episode, we examine the key developments from July — including amendments to the EU Taxonomy regulation, EFRAG’s extended deadline, and major revisions to the European Sustainability Reporting Standards (ESRS). We also discuss the potential implications for businesses as the legislative process advances, including why “wave 1” reporters must stay alert even if the changes aren’t finalized yet.

In this episode, we discuss:

1:09 – July’s major EU sustainability developments
4:18 – Deadline extension for EFRAG revisions
7:22 – The “quick fix” delegated act and wave 1 reporting relief
13:55 – Major revisions to ESRS
21:38 – Status of the broader content proposal
25:15 – Breaking down the EU legislative process and expected timelines

Get caught up on the EU Omnibus package:

Looking for the latest developments in sustainability reporting?

Read PwC’s Sustainability reporting guide
Check out other episodes in our sustainability reporting podcast series

About our guest

Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group.

About our host

Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting.

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