Sustainability now: Navigating “Omnibus” uncertainty

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Mar 13, 2025

Diana Stoltzfus, a partner at PwC’s National Office, speaks about the EU's Omnibus proposal and its significant implications for sustainability reporting. She dives into the changes to the Corporate Sustainability Reporting Directive and what 'stop the clock' entails. The conversation reveals how these modifications will impact companies and their reporting requirements. They also discuss the intertwined challenges of climate change and gender equality, emphasizing the need for businesses to adapt to these evolving regulations.

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INSIGHT

Value Chain Reporting Limits

CSRD limits value chain information requests to VSME standards for out-of-scope entities.
Obligations don't compel value chain partners to provide info, data sharing remains voluntary.

INSIGHT

Understanding VSME Standards

VSME standards comprise a basic and comprehensive module with limited data points.
The standards focus mainly on own operations and exclude detailed value chain social data.

INSIGHT

Changes to CSRD Assurance Requirements

Proposed CSRD removes planned move from limited to reasonable assurance.
European Commission will issue guidelines instead of binding assurance standards.

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A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com.

We're excited to continue our video podcast series on the foundations of sustainability reporting. Now watch along with our sustainability specialists as they discuss the latest on sustainability.

In this bonus episode, we break down the EU’s Omnibus proposal released on February 26, covering key changes to the Corporate Sustainability Reporting Directive (CSRD), including potential impacts to timing and requirements. Join PwC’s Heather Horn and Diana Stoltzfus as they discuss the implications for companies and what’s next in the legislative process.

In this episode, we discuss:

1:46 – Background on the regulatory changes driving the Omnibus proposals
5:20 – The process and timeline of the CSRD proposals
9:58 – Two CSRD proposals – “stop the clock” and content revision – and potential implications
29:30 – The next steps for these proposals
31:40 – Proposed changes to EU Taxonomy regulations and member state transposition
37:28 – How companies can consider these potential changes before they become final

ICYMI: Check out the first three episodes of this miniseries:

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 Professional Practices Group within the OCA.

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. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

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