Finnish Energy generally supports ESMA’s proposal for the phased implementation of digital reporting, as it would provide companies with additional time to adapt to evolving requirements. However, considering the Commission’s Omnibus I initiative, which is likely to postpone the sustainability reporting obligations for second- and third-wave companies by two years, we believe that the proposed timeline is no longer up to date and should be adjusted accordingly to align with the delayed reporting obligations.
Furthermore, we question the necessity of mandatory digital reporting altogether. Instead of imposing such a requirement, we suggest exploring the potential of AI-driven solutions for collecting the required data. Eliminating mandatory digital reporting would significantly reduce the administrative burden on companies and simplify reporting processes, thus being aligned with the Commission’s competitiveness objectives and the Omnibus initiative.
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