European Commission Adopts CSRD ‘Quick Fix’ Amendments for Wave 1 Entities

On July 11, 2025, the European Commission adopted delegated act amendments to the CSRD providing relief for Wave 1 entities. The amendments allow these largest companies to maintain the same reporting level applied in 2024 for both 2025 and 2026 reporting periods, extending transitional provisions and providing additional reporting relief. The delegated act entered force three days after publication in the Official Journal with an effective date of January 1, 2025. This development followed the Commission’s broader omnibus legislative process that began in February 2025 to reduce sustainability reporting burdens while maintaining transparency standards. ( European Commission )

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Simon Mak
Simon Mak didn’t set out to build just another finance firm—he set out to change how business measures success. After graduating from McGill University and earning credentials as a CFA and CMA, Simon founded Ascent Partners in Hong Kong, blending financial rigor with a vision for sustainability. Along the way, he realized that true value isn’t just in numbers—it’s in impact. That belief inspired the Ascent Partners Foundation, which Simon leads as Chairman. The foundation supports causes from poverty relief to environmental protection, partnering with NGOs and sustainability networks to drive real change. His influence extends beyond the boardroom through roles with Friends of the Earth, the UN ESCAP Sustainable Business Network, and industry alliances—always guided by one principle: business should be a force for good.
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| September 14th, 2025 | Posted in News |

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