News Omnibus Simplification Package on Sustainability Rules 27/02/2025

Following the launch of the recent Competitiveness Compass – that sets the vision for strengthening the EU's competitiveness and making the EU's economy more prosperous, building on the recommendations of the Draghi report – the European Commission has announced, yesterday, February 26, the adoption of a new package of proposals to simplify EU rules, boost competitiveness, and unlock additional investment capacity. 

According to the press release, these proposals will reduce complexity of EU requirements for all businesses, notably SMEs and small mid-caps, focus regulatory framework on the largest companies which are likely to have a bigger impact on the climate and the environment, while still enabling companies to access sustainable finance for their clean transition.

The package includes amendments to the Corporate Sustainability Reporting Directive (CSRD), the Corporate Sustainability Due Diligence Directive (CSDDD), the Carbon Adjustment Mechanism (CBAM), and the InvestEu Regulation. The package is accompanied by a draft Taxonomy Delegated Act for public consultation. The aim is to square the EU's ambition towards a sustainable transition with enhancing EU companies' competitiveness.

The legislative proposals will now be submitted to the European Parliament and the Council for their consideration and adoption. 

GPA is monitoring this issue closely and will get back shortly with further developments.