The voluntary sustainability reporting landscape

The EU’s recent Omnibus Directive proposal has sparked confusion among companies preparing for the Corporate Sustainability Reporting Directive (CSRD). With suggested delays and phase-ins, some businesses may feel tempted to pause their sustainability and reporting efforts. But the truth is that sustainability reporting existed long before the CSRD, and many companies leveraged voluntary sustainability reporting to their advantage.

What has happened with CSRD?

The omnibus directive that has been proposed by the European Commission and is now negotiated among the European bodies proposes:

A 2-year delay in CSRD requirements for certain non-listed companies (Wave 2 and Wave 3 companies)
Potential change in company size thresholds
Simplification of the ESRS standard

Nonetheless, this does not mean that sustainability is off the table given the increasing amount of environmental and social risks and stakeholder demands. Instead, it gives companies more time to prepare and fewer excuses to delay compliance.

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Why continue with voluntary sustainability landscape reporting?

Even with regulatory flexibility, leading companies around the world are choosing to report voluntary, given the benefits that sustainability reporting offers. More specifically:

Investor and stakeholder pressure for quality information and sustainability data

Capital providers and financial institutions still expect robust ESG disclosure for the companies that belong to their value chain- especially on climate, supply chain risks, and human rights.

First movers set the narrative

Companies that manage to report early shape how their sustainability story is narrated, rather than reacting under pressure later and not communicating effectively all their efforts.

Internal capacity and training

By adopting early a comprehensive sustainability reporting program, teams manage to gain experience in sustainability reporting and data gathering, test data collection systems, and identify gaps before regulation makes it mandatory.

Regulatory alignment still being the goal

Voluntary disclosures have helped many companies align with future CSRD and ESRS obligations without the scramble, as those standards are based on pre-existent one (e.g., GRI).

Popular voluntary sustainability reporting landscape frameworks

If you are not ready for full CSRD compliance yet, we are recommending you some of the following trusted and internationally adopted options to start or strengthen your sustainability reporting journey:

Framework/Standard	Focus	Ideal for	Key benefits
GRI Standards	Broad ESG disclosures that focus on the impacts that a company has on their external environment	Companies, especially international, aiming for transparency and multi-stakeholder engagement	Widely accepted globally, aligns with CSRD, comprehensive and flexible
SASB Standards	Industry-specific standard (covers 77 industries) and focuses on financial materiality	Investor-focused company, especially those in capital markets	Clear connection to financial performance, tailored to industry risks
VSME Standards	Simplified version of ESRS focusing on certain ESG topics	Non-listed SME’s or companies that have not started with their CSRD program yet	Light-weight, CSRD compatible, ideal for capacity building
TCFD	Climate related financial risks and opportunities	Firms preparing for CSRD, SBTi, or climate risk disclosures	Supports scenario analysis, risk management, and strategic climate alignment
CDP	Environmental impact covering climate change, water scarcity and deforestation	Companies needing environmental benchmarking and investor scoring in those topics	Strong reputation with investors, allows comparability and scoring

Each of these frameworks and standards offers a practical path to build internal reporting capacity, gain market credibility, and progressively align with CSRD and other regulations that are introduced globally.

The omnibus proposal is not a reason to stop your sustainability reporting program; it’s a window to start smart. Voluntary sustainability reporting helps future-proof your business, meet market expectations, and lead instead of lag.

Be prepared

Need help picking the right framework or aligning with CSRD gradually but progressively? Our team of experts can help you make informed decisions based on your strategic goals, industry context, and regulatory obligations. Please use the contact form below to inform us of your needs regarding your sustainability reporting program. We aim to respond within one business day to assist you. 