CSRD after Omnibus: who still reports and from when

What has changed

The 2023 CSRD would have brought tens of thousands of European companies into reporting. The Omnibus package raised the thresholds and postponed the calendar: the first wave (large listed public-interest companies) has been reporting since 2025; the second wave was moved by the "stop the clock" directive - you report in 2028, for financial year 2027; and listed SMEs have effectively left the obligation. In parallel, the revised ESRS standards (with more than 60% fewer mandatory data points) were adopted by the Commission on 3 July 2026 and apply from financial year 2027.

The conclusion for most companies in Romania: the law does not oblige you. The market does.

Why you report even if you are not obliged

Retailers, banks and large clients ask for your ESG data through questionnaires, scorecards and supply chain platforms - because they, in turn, are obliged to report and need your data. The proportionate answer for companies outside the obligation is VSME, the simplified voluntary standard, adopted together with the revised ESRS on 3 July 2026.

Our recommendation: do not wait for the final version to put your data in order. The materiality assessment and the collection process take months - whoever starts them now answers the 2027 questionnaires with figures, not promises.