After months of speculation, criticism on the overall process and (lack of) transparency thereof so far, uncertainty about a publication date, and a leaked draft over the weekend, the European Commission has finally unveiled the First Omnibus Package on Sustainability. Today, the EC discussed and decided on the final content of the texts, bringing long-awaited clarity on its ambitions.

As discussed in our previous posts on the topic, this First Omnibus intends to tackle the CSRD, CSDDD and Taxonomy Regulation with aim to reduce reporting burdens, particularly for SMEs. Less mentioned but also included in the Package is the EU Carbon Border Adjustment Mechanism, which will also be reviewed for further simplification.

📑You can consult the texts and communications here.

💡𝐖𝐡𝐞𝐫𝐞 𝐝𝐨 𝐰𝐞 𝐠𝐨 𝐟𝐫𝐨𝐦 𝐡𝐞𝐫𝐞? With the legislative train now officially in motion, the Package will be submitted to the European Parliament and Council. The Package is already set to be discussed at the next meeting of the Competitiveness Council on 6 March 2025. As for the MEPs, a date is still to be determined.

Stay tuned to be updated on the content of the texts. In the meantime, feel free to reach out if you would like a deeper dive!

#ESG #Sustainability #CSRD #CSDDD #Omnibus #CorporateResponsibility #contrastupdate