European Commission adopts ESRS “quick-fix” delegated act extending Wave 1 phase-ins for FY2025–FY2026

The European Commission adopted a delegated act amending the first set of European Sustainability Reporting Standards (ESRS) to provide targeted relief for ‘wave 1’ CSRD reporters (first reporting for FY2024). The amendments extend certain ESRS phase-ins so companies can continue omitting specific disclosures in FY2025 and FY2026 (e.g., anticipated financial effects; and for certain undertakings, additional reliefs for Scope 3/total GHG and selected topical standards/datapoints) to avoid a step-up in disclosure requirements compared with FY2024. Compliance teams should reassess FY2025–FY2026 ESRS disclosure plans, internal data-collection roadmaps, and assurance readiness against the amended ESRS provisions.