On July 11, 2025, the European Commission adopted targeted “quick fix” amendments to the first set of European Sustainability Reporting Standards (ESRS). These amendments are intended to reduce burden and increase certainty for companies that had to start reporting for financial year 2024 (commonly referred to as “wave one” companies).

According to the current ESRS, companies reporting on financial year 2024 can omit information on the anticipated financial effects of certain sustainability‑related risks, among other things. The “quick fix” amendment, which applies from financial year 2025, will allow them to omit that same information for financial years 2025 and 2026. This means that “wave one” companies will not have to report additional information in 2025 and 2026 compared to 2024.

Moreover, for financial years 2025 and 2026, “wave one” companies with more than 750 employees will benefit from most of the same phase‑in provisions that currently apply to companies with up to 750 employees. A summary of the modifications is available here.

This article originally appeared on inc.nutfruit.org.