CPDStore Ireland

On 3 July 2026, the European Commission adopted a major update to the European Sustainability Reporting Standards (ESRS) through a new Delegated Act. As part of the Omnibus I simplification package, these revisions are designed to streamline sustainability reporting across the European Union, reduce the reporting burden on businesses, and provide greater clarity on how companies should apply the principle of materiality. The broader package also narrows the scope of the Corporate Sustainability Reporting Directive (CSRD), reducing the number of companies required to report. The updated framework is shorter, clearer, and more flexible, reducing mandatory datapoints by more than 60% and the overall number of datapoints by over 70%. The European Commission expects these changes to reduce reporting costs for companies by more than 30%, supporting its wider objective of lowering administrative burdens associated with reporting requirements by 25%. These revised standards will apply from financial year 2027, with the option for companies to adopt them early from 2026. As organisations prepare for this new reporting landscape, it is important for sustainability, finance, and reporting professionals to understand what has changed and how these changes will affect reporting obligations. In this course, we will examine the newly adopted Delegated Act, explore the key amendments to the ESRS, and discuss the practical implications for organisations reporting under the revised framework. This course will arm accountants and finance professionals with the knowledge they need to support their organisations in sustainability reporting.

Benjamin Okpara will cover the following topics during this webinar:

• The Omnibus I Simplification Package: Learn why the European Commission introduced the Omnibus I package and how it aims to simplify sustainability reporting requirements across the EU.

• Key Changes to the ESRS: Explore the major amendments to the European Sustainability Reporting Standards, including reductions in mandatory disclosures, streamlined datapoints, and new reporting flexibilities.

• Materiality Under the Revised Framework: Understand how the updated ESRS clarifies the application of materiality and what this means for determining reportable sustainability information.

• Implications for CSRD Reporting: Examine how the revisions affect organisations reporting under the Corporate Sustainability Reporting Directive (CSRD), including changes to scope, reporting requirements, and implementation timelines.

• Preparing for the New Reporting Landscape: Identify the practical steps finance, sustainability, and reporting professionals should take to prepare for reporting under the revised ESRS, including opportunities for early adoption.

By attending this session, you will gain a clear understanding of the European Commission’s recent revisions to the European Sustainability Reporting Standards (ESRS) and the objectives of the Omnibus I simplification package. You will learn how the updated standards reduce reporting requirements, introduce greater flexibility, and clarify the application of materiality in sustainability reporting. In addition, you will develop practical knowledge of the implications of these changes for organisations reporting under the Corporate Sustainability Reporting Directive (CSRD), including key implementation timelines and transition considerations. This knowledge will help you navigate the evolving sustainability reporting landscape with confidence and support your organisation’s readiness for reporting under the revised ESRS framework.

This session is targeted at accountants and finance professionals who are involved in financial and non-reporting within their organisations or those looking to transition into a dual function role.

Course Level: Intermediate