{"id":4154,"date":"2026-01-07T04:54:28","date_gmt":"2026-01-07T03:54:28","guid":{"rendered":"https:\/\/www.planetfanatics.hu\/?p=4154"},"modified":"2026-01-30T04:57:11","modified_gmt":"2026-01-30T03:57:11","slug":"waiting-waiting-waiting","status":"publish","type":"post","link":"https:\/\/www.planetfanatics.hu\/en\/news\/waiting-waiting-waiting\/","title":{"rendered":"Waiting. Waiting! Waiting?"},"content":{"rendered":"<h6 class=\"meta-author-wrapped\">Author: <strong><span class=\"vcard author\"><span class=\"fn\"><a href=\"https:\/\/www.fenntarthatofejloves.net\/author\/szomkat\/\">Melinda Vida<\/a><\/span><\/span><\/strong><\/h6>\n<blockquote>\n<div>It seems almost like a tradition: the beginning of each year is filled with anticipation\u2014particularly regarding domestic and international ESG regulations. And 2026 is no exception.<\/div>\n<\/blockquote>\n<p data-path-to-node=\"5\">The process that began in February 2025 is now partly approaching its end, and the excitement surrounding its impact and its transposition into domestic legislation is well\u2011deserved. These changes can significantly transform a company\u2019s sustainability operations, disclosure obligations, and data\u2011reporting responsibilities.<\/p>\n<div>\n<hr \/>\n<h1><strong>EU Omnibus \u2013 2025<\/strong><\/h1>\n<p>On <strong>26 February 2025<\/strong>, the EU Omnibus simplification package was submitted. We have continuously reported on its implications, decisions, and reception.<\/p>\n<hr \/>\n<h1><strong>Amendment of the ESG Act \u2013 2025<\/strong><\/h1>\n<p>The wave of regulatory decisions throughout 2025 was partially mirrored in domestic legislation as well. On <strong>17 June 2025<\/strong>, Hungary adopted an amendment to the ESG Act, introducing:<\/p>\n<ul>\n<li>new entry thresholds,<\/li>\n<li>revised requirements,<\/li>\n<li>a narrower scope of obligated entities,<\/li>\n<li>and changes to SME involvement.<\/li>\n<\/ul>\n<p>Additionally, based on the <em>EU Omnibus Stop\u2011the\u2011Clock<\/em> proposal, the amendment postponed previous disclosure deadlines by <strong>two years<\/strong>.<\/p>\n<h3><strong>Key changes of the amendment<\/strong><\/h3>\n<h4><strong>New Entry Thresholds<\/strong><\/h4>\n<p>Beyond public\u2011interest large companies, entities remain under the scope of the ESG Act if they exceed:<\/p>\n<ul>\n<li><strong>HUF 90 billion<\/strong> annual net revenue, and<\/li>\n<li><strong>500 employees<\/strong>,<\/li>\n<\/ul>\n<p>and\u2026<\/p>\n<h4><strong>Sector Classification<\/strong><\/h4>\n<p>\u2026their <strong>primary economic activity<\/strong> appears under the TE\u00c1OR codes of industries explicitly included in the scope of the Act.<br \/>\n(Annex available here \u2013 see page 34.)<\/p>\n<h3><strong>Obligations of companies remain unchanged<\/strong><\/h3>\n<p>Obligated companies continue with their processes through 2025 and into 2026. They must:<\/p>\n<ul>\n<li>prepare their <strong>ESG report<\/strong> (including the annexed questionnaire) by <strong>30 June 2026<\/strong>,<\/li>\n<li>but <strong>no assurance, publication, or submission to SZTFH<\/strong> is required yet.<\/li>\n<\/ul>\n<p>These will only become mandatory starting <strong>2028<\/strong> (according to current legislation).<\/p>\n<hr \/>\n<h1><strong>Amendment of the Accounting Act \u2013 2025<\/strong><\/h1>\n<p>Sustainability reporting\u2014regulated by the Accounting Act\u2014also stalled in timing and standardisation.<br \/>\nDue to Stop\u2011the\u2011Clock, obligated entities gained <strong>two additional years<\/strong> for preparation, and throughout 2025 the <strong>CSRD\u2013ESRS standard system<\/strong> was reshaped under the influence of the EU Omnibus.<\/p>\n<p>Key developments:<\/p>\n<ul>\n<li>an <strong>ESRS simplified standard package<\/strong> was published at the end of the year,<\/li>\n<li>and the <strong>voluntary reporting standards<\/strong> are also being renewed.<\/li>\n<\/ul>\n<hr \/>\n<h1><strong>How 2025 Concluded<\/strong><\/h1>\n<p>By the end of the year, ESG regulation experienced a true <strong>regulatory avalanche<\/strong>.<\/p>\n<p>On <strong>16 December<\/strong>, not only did the EU pass the EU Omnibus I package and the new entry thresholds, but the <em>Hungarian Gazette<\/em> also published several laws incorporating ESG considerations and strengthening the credibility of sustainability actions.<br \/>\nMoreover, on <strong>22 December 2025<\/strong>, SZTFH initiated amendments to the decree defining the ESG questionnaire.<\/p>\n<hr \/>\n<h1><strong>EU Omnibus I Package \u2014 Approved<\/strong><\/h1>\n<p>We have covered this extensively earlier; here are the key changes:<\/p>\n<h3><strong>CSRD \u2013 Sustainability Reporting<\/strong><\/h3>\n<p>Only companies that meet both criteria will be obligated to report:<\/p>\n<ul>\n<li>more than <strong>1,000 employees<\/strong>, and<\/li>\n<li>annual net revenue over <strong>\u20ac450 million<\/strong> (approx. HUF 173 billion).<\/li>\n<\/ul>\n<p>Smaller companies with fewer than 1,000 employees are protected from mandatory reporting obligations.<\/p>\n<h3><strong>CSDDD \u2013 Due Diligence<\/strong><\/h3>\n<p>Applies only to major companies with:<\/p>\n<ul>\n<li>more than <strong>5,000 employees<\/strong>, and<\/li>\n<li>annual net revenue above <strong>\u20ac1.5 billion<\/strong>.<\/li>\n<\/ul>\n<hr \/>\n<h1><strong>16 December \u2013 Domestic Legislative Changes (Hungary)<\/strong><\/h1>\n<p>Issue 153 of the <em>Hungarian Gazette<\/em> (2025.12.16.) included three relevant announcements:<\/p>\n<ol>\n<li><strong>Act XCI of 2025<\/strong> \u2013 Amendments related to the EU\u2019s 2024\/1265 fiscal framework directive<\/li>\n<li><strong>Act XCIV of 2025<\/strong> \u2013 Amendments to consumer protection laws supporting SMEs and harmonisation<\/li>\n<li><strong>Act C of 2025<\/strong> \u2013 Amendments affecting the financial intermediary system<\/li>\n<\/ol>\n<hr \/>\n<h2><strong>Act XCI of 2025<\/strong><\/h2>\n<p>Key requirement: the <strong>central budget proposal must incorporate climate\u2011protection considerations<\/strong>, beginning already with the <strong>2026 budget planning<\/strong> process.<\/p>\n<p>Further obligations include:<\/p>\n<ul>\n<li>detailed reporting of indirect subsidies via tax reliefs, including their environmental and climate impacts<\/li>\n<li>annual and multi\u2011year macroeconomic forecast reviews<\/li>\n<li>assessment of whether medium\u2011term fiscal planning aligns with sustainability expectations<\/li>\n<\/ul>\n<hr \/>\n<h2><strong>Act XCIV of 2025 \u2013 Greenwashing Prevention<\/strong><\/h2>\n<p>A milestone amendment aimed at preventing greenwashing. It also constitutes the Hungarian transposition of the international <strong>Green Claims Directive<\/strong> (effective January 2026).<\/p>\n<h3><strong>Key additions<\/strong><\/h3>\n<ul>\n<li>The act formally defines the concept of a <strong>sustainability label<\/strong><\/li>\n<li>Misleading sustainability labels are prohibited<\/li>\n<\/ul>\n<p><strong>Sustainability Label \u2013 Definition<\/strong><br \/>\nA voluntary trust mark or quality label\u2014public or private\u2014intended to distinguish or promote a product, process, or company based on environmental or social characteristics (or both), excluding legally mandated EU labels.<\/p>\n<p>The act states:<br \/>\n<strong>Misleading consumers about the environmental, social, or circular attributes of a product is always considered unlawful commercial practice.<\/strong><\/p>\n<hr \/>\n<h2><strong>Act C of 2025 \u2013 ESG in the Financial Sector<\/strong><\/h2>\n<p>This amendment obliges financial institutions to consider <strong>ESG risks at every level of risk management<\/strong>.<\/p>\n<p><strong>ESG Risk \u2013 Definition<\/strong><br \/>\nAny negative financial effect resulting from current or expected environmental, social, or governance\u2011related impacts on an institution\u2019s partners or invested assets, materialising through traditional financial risk categories.<\/p>\n<hr \/>\n<h1><strong>Updated ESG Questionnaire<\/strong><\/h1>\n<p>Amendments were driven partly by the MNB\u2019s updated minimum ESG questionnaire for credit\u2011risk assessments.<\/p>\n<p>Implications for companies:<\/p>\n<ul>\n<li>changes to data\u2011collection processes<\/li>\n<li>updates to databases<\/li>\n<li>adjustments to supplier due diligence<\/li>\n<li>required modifications to ESG software<\/li>\n<\/ul>\n<p>These must all be implemented in <strong>early 2026<\/strong>.<\/p>\n<p>A new, nationally relevant data point was added:<br \/>\n<strong>the presence of a certified green\u2011space (z\u00f6ldfel\u00fcleti) certificate<\/strong>.<\/p>\n<p>The updated questionnaire is now available on the <strong>SZTFH website<\/strong>.<\/p>\n<hr \/>\n<h1><strong>2026 \u2013 What We\u2019re Waiting For<\/strong><\/h1>\n<p>This is where we stand today: we wait.<\/p>\n<p>We await the <strong>final text<\/strong> of the EU Omnibus I package, expected in <strong>Q1 2026<\/strong>, which will enter into force on the 20th day after publication in the <em>Official Journal of the European Union<\/em>.<\/p>\n<p>We also await how Hungarian legislation will respond\u2014both the Accounting Act and ESG Act\u2014and how new EU simplification goals will be adopted domestically, including:<\/p>\n<ul>\n<li>new entry thresholds,<\/li>\n<li>alignment of the two regulatory regimes,<\/li>\n<li>and updated expectations for companies.<\/li>\n<\/ul>\n<hr \/>\n<h1><strong>Uncertainty or Conscious Preparation? Our Choice.<\/strong><\/h1>\n<p>The beginning of 2026 does <em>not<\/em> need to be about uncertainty.<br \/>\nInstead, it can be a period of <strong>purposeful preparation<\/strong>.<\/p>\n<p>Companies that use this time not to wait, but to <strong>strengthen their systems, data flows, and internal decision\u2011making<\/strong>, will gain a <strong>competitive advantage<\/strong> in the coming years.<\/p>\n<p>We believe ESG will remain a <strong>strategic priority<\/strong>, not an administrative burden.<br \/>\nOur mission is to monitor developments and support organisations in navigating the evolving regulatory environment.<\/p>\n<hr \/>\n<h1><strong>Free 30\u2011Minute Consultation<\/strong><\/h1>\n<p><strong>You know you need to do something \u2014 but you&#8217;re not sure what? We can help.<\/strong><\/p>\n<p>Corporate sustainability is complex and regulations evolve rapidly.<\/p>\n<p>Many companies have just exited the scope of obligations, while others face entirely new expectations.<\/p>\n<p>If you\u2019re unsure whether:<\/p>\n<ul>\n<li>CSRD applies to you,<\/li>\n<li>you need to prepare an ESG report,<\/li>\n<li>or which services would support your compliance,<\/li>\n<\/ul>\n<p>this is your opportunity to ask.<\/p>\n<h3><strong>Book your free 30\u2011minute online consultation<\/strong><\/h3>\n<p>During the session:<\/p>\n<ul>\n<li>we help interpret the regulations relevant to your company,<\/li>\n<li>assess your needs together,<\/li>\n<li>and outline the recommended next steps.<\/li>\n<\/ul>\n<p><strong>No commitment. No cost. Only clarity and more confident decisions.<\/strong><\/p>\n<p>\ud83d\udc49 <a href=\"https:\/\/planet-fanatics-network-kft.reservio.com\/\"><strong>BOOK NOW<\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Summary of the 2025 regulatory changes, key decisions, and our expectations for 2026.<\/p>\n","protected":false},"author":3,"featured_media":4145,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[119],"tags":[403,407,406,408,405,404,361,353],"_links":{"self":[{"href":"https:\/\/www.planetfanatics.hu\/en\/wp-json\/wp\/v2\/posts\/4154"}],"collection":[{"href":"https:\/\/www.planetfanatics.hu\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.planetfanatics.hu\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.planetfanatics.hu\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.planetfanatics.hu\/en\/wp-json\/wp\/v2\/comments?post=4154"}],"version-history":[{"count":2,"href":"https:\/\/www.planetfanatics.hu\/en\/wp-json\/wp\/v2\/posts\/4154\/revisions"}],"predecessor-version":[{"id":4156,"href":"https:\/\/www.planetfanatics.hu\/en\/wp-json\/wp\/v2\/posts\/4154\/revisions\/4156"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.planetfanatics.hu\/en\/wp-json\/wp\/v2\/media\/4145"}],"wp:attachment":[{"href":"https:\/\/www.planetfanatics.hu\/en\/wp-json\/wp\/v2\/media?parent=4154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.planetfanatics.hu\/en\/wp-json\/wp\/v2\/categories?post=4154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.planetfanatics.hu\/en\/wp-json\/wp\/v2\/tags?post=4154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}