The first enterprises obliged to report on sustainability, as dictated by the CSRD (Corporate Sustainability Reporting Directive) and the ESRS reporting standards, were scheduled to start reporting on their sustainability by the end of this year. These are companies with over 500 employees that work in the public sector.
However, at the end of February 2025, the European Commission presented the legislative bundle Omnibus, which will ease the stipulated regulations and standards and postpone the start of the CSRD Directive, the Corporate Sustainability Due Diligence Directive (CSDDD), and alter the EU taxonomy. The Stop-the-Clock Directive postpones the start of the reporting on sustainability for large enterprises, following the CSRD Directive, by two years. These are companies that would have needed to begin reporting on their sustainability in 2025, as well as SMEs (small and medium-sized enterprises) that trade on the stock market and would need to report on their sustainability in 2026. The other obligations outlined by the CSRD Directive remain obligatory, as does reporting according to ESRS Standards.
THE VSME STANDARD aims to create a more sustainable and inclusive economy.
Amid the scorching summer, the European Commission surprised us with another set of standards. They unveiled the voluntary VSME standards for SMEs that will introduce a simplified and coordinated reporting system on ESG topics for micro, small and mid-sized companies that need not report under the CSRD Directive. However, as more and more financial institutions and larger companies demand data on sustainability from them, VSME helps SMEs effectively respond to the demands of the supply chain. It facilitates access to financing with more transparent ESG information and helps companies manage their sustainability reporting. In essence, VSME aims to create a more sustainable and inclusive economy. You can learn more about the standard here: VSME Standard.
While the world debates the new simplified sustainability reporting standards, new research by Morgan Stanley has shown that nearly 9 out of 10 companies see sustainability as a prospect for creating value and increasing revenue (higher profits, income growth, less capital expenses). Among over 330 companies, 88% of them state that sustainability directly influences how they strategise. A surprising 53% of them evaluate sustainability as the key engine for producing value, and 35% see it as a combination of creating value and mitigating risk. You can learn more here.
The revised standards are a welcome encouragement for event organisers not to freeze their green transition but boost it.
We are delighted to hear that many companies still find value in becoming more sustainable. The team at Planet Positive Event will closely follow the latest novelties in sustainability standards (Omnibus, VSME and the revised ESRS), as they represent the foundation for the next version of the tool they will unveil by the end of the year. The new version will be aligned with the ESRS and VSME standards, making the tool the most compatible on the market. That will help us further reinforce the leading status of the tool as a catalyst for facilitating the sustainable transformation within the events industry. The revised standards are a welcome encouragement for event organisers not to freeze their green transition but boost it, with less administration, more alignment with standards and more value for event organisers.
