Commission unveils ‘Omnibus’ package to simplify EU sustainability and investment rules
Today, the European Commission (Commission) has proposed a package (‘Omnibus’ package’) of measures to reduce administrative burdens and enhance investment capacity, aiming to strengthen EU competitiveness. The reforms focus on simplifying sustainability reporting, due diligence, the EU Taxonomy, carbon border rules, and investment programs, targeting a 25% reduction in red tape, with 35% for SMEs.
Key measures include limiting corporate sustainability reporting to large firms, reducing due diligence obligations for SMEs, exempting small importers from the Carbon Border Adjustment Mechanism (CBAM), and streamlining EU investment programs. These changes are expected to save businesses EUR 6.3 billion annually and unlock EUR 50 billion in public and private investment.
The proposals now await approval by EU legislators before implementation.
For more information, see the Commission’s PR.