Eurosif position on the Omnibus I package

On 26 February 2025, the European Commission (EC) released a legislative proposal for an Omnibus directive amending different rules from the EU sustainable finance package (“Omnibus I”). Notably for the investment world, the Corporate Sustainability Reporting Directive (CSRD), Corporate Sustainability Due Diligence Directive (CSDDD) and the EU Taxonomy were impacted.

The CSRD, CSDDD and the EU Taxonomy are key to ensure investors get the disclosures necessary to inform their decisions. The Omnibus initiative may negatively impact the availability, quality and reliability of corporate sustainability disclosures. In turn, this is likely to hinder investor contribution to the EU objectives of financing sustainable growth and industrial decarbonisation.

While we acknowledge simplification and an improvement of the EU sustainability rules are needed, it must not jeopardise the transition to a just and low-carbon economy or undermine the objectives of the Green Deal.

The substance of EU sustainable finance rules needs to be maintained:

• The different EU regulations have developed a layer of attention and understanding of sustainability in our economy;
• They act as a means to bridge the financing gap for EU competitiveness and decarbonisation estimated at up to €800 billion annually for which investors need high quality, comparable and decision-useful sustainability-related information from companies;
• Investors are increasingly considering sustainability factors when making investment decisions to reduce financial risks, mitigate and remediate their climate-related and environmental impacts and ensure the long-term value of their portfolios.

About this paper

Our position provides recommendations for modifying the CSRD and CSDDD, and adjusting the EU Taxonomy delegated acts. Through the expertise of, and consultation with, the investment industry, this paper sets out proposals to simplify these rules while ensuring they remain aligned with the needs for available, reliable, and comparable information for investors.

 

Access the position paper here

If you are interested in the specific amendments to the text of the Omnibus directive that we suggest, please get in touch with Alicia Woodall, Senior Policy Adviser.