The EU Voluntary Standard for Sustainability Reporting (VS)—which is based on the VSME and will replace it —is the instrument provided for by the Omnibus Directive (Directive (EU) 2026/470) for companies that, while not covered by the CSRD, wish to report, in a structured and consistent manner, on their sustainability performance and commitments. Following developments in the European regulatory framework, the VS is no longer limited to SMEs and is now available to companies with up to 1,000 employees that remain outside the scope of the CSRD. At the same time, its adoption through a binding legal act reinforces its role as a “value chain cap,” establishing the limit on the sustainability information that companies covered by the CSRD may request from their value chain partners with up to 1,000 employees. The Voluntary Standard provides for modular and cumulative implementation—the Basic Module, designed for smaller companies and setting out the minimum requirements, and the Comprehensive Module, which builds on the former and addresses the demands of banks, investors, and corporate clients. In this context, the VS serves as a strategic tool for companies seeking to structure their sustainability reporting, respond consistently to requests from various stakeholders, and strengthen their preparedness for future market demands.