Companies need more time and simplification in sustainability reporting

The Estonian Ministry of Finance collected feedback on the Omnibus I amendment proposals from 327 large companies, of which 73 responded. 

Most companies subject to reporting obligations from 2025 supported a postponement – 40% preferred a two-year delay and 31% a three-year delay. By March 2025, 82% of companies were carrying out double materiality analysis or were already further in the process, only 18% of respondents had not started the preparations.

Sustainability reporting costs varied, but companies with higher investments generally plan to continue reporting. 81% supported adding a 1000-employee threshold to reporting criteria, and there was broad support for simplification of ESRS standards. Companies also raised concerns about the neglect of sector-specific needs and potential greenwashing risks.

The survey results show that companies support the proposed simplifications and, in addition to more time, need practical guidance and tools, as most plan to continue sustainability accounting or reporting – whether mandatory or voluntary. Expectations were focused on simplifying the standards themselves, rather than narrowing the scope of obligated companies.

The overview of their feedback can be found here (in Estonian): Archives: Kestlikkusaruandluseks valmistumine – Kestlikkusaruandlus

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