Insurance Europe backs plans to delay sustainability directives

Written by Michael Griffiths

02/04/2025

Insurance Europe has backed the European Commission’s proposal to delay putting new sustainability rules into place until 2028.

The Commission has proposed suspending putting into law the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD) while the rest of the omnibus package is negotiated.

In a paper published today, Insurance Europe reaffirmed the industry’s commitment to tackling climate change and its support for the EU’s sustainability goals.

The federation said that as part of the “stop-the-clock” mechanism within the EU’s first Omnibus package, large companies who have yet to begin CSRD reporting and listed SMEs would see a two-year delay, while the CSDDD’s transposition and first phase would be postponed by one year.

In a statement, Insurance Europe said: “In line with the European Commission’s commitment to reducing reporting burden and simplifying its laws, the industry stresses that more time is needed to sufficiently assess the impact of the two legislations, ensuring that excessive regulatory burden avoided being diverted from real action on sustainability.”

Related Articles