In my own research (drawing on ongoing interviews), I have so far encountered five interconnected motivations for "voluntary action post-omnibus":

1️⃣ EXPECTATIONS: Many firms realize that while CSRD/CSDDD change, stakeholder expectations do not change - particularly from business partners, investors, and banks. These expectations act as "pressure points"...

2️⃣ FORESIGHT: Some firms do not yet face these expectations, but they anticipate them based on their observation of the broader market environment and the behaviour of their competitors.

3️⃣ VALUE CREATION: Some firms recognise the business value related to voluntary action: stronger risk management, clearer governance, and better decision-making through improved data and processes.

4️⃣ COMMUNICATION: Others see voluntary action as a way to develop and sustain a shared language on sustainability in the organization which allows for better collaboration and coordination.

5️⃣ VALUES: Some companies push for voluntary action as a natural expression of their organisational values, especially in family-owned firms where values are often strongly lived.

How firms view voluntary action depends on their prior experiences (e.g. with NFRD/CSRD) and past investments in relevant systems. For instance, value is more difficult to see without any implementation experience.

👉 All of this has significant implications for business education. We still teach too much compliance... I started to do my share. We revised our "Sustainable Business Transformation" program at CBS Executive (delivered with IMD). We do not discuss regulations as legal demands, but as frameworks for managing expectations, business value, and corporate values...