EU Commission Omnibus Package

Summary

The European Commission ("the Commission") has adopted a new package of proposals to simplify European Union ("EU") rules, boost competitiveness, and unlock additional investment capacity.

The aim of the first Omnibus package is to address overlapping, unnecessary or disproportionate rules that are creating unnecessary burden for EU businesses.

It addresses three crucial pieces of legislation over which both industry and Member States have recently expressed serious concerns:

1. The Corporate Sustainability Reporting Directive (CSRD), (EU) 2022/2464) (CSRD)
2. The Corporate Sustainability Due Diligence Directive (CSDDD) ((EU 2024/1760)) and
3. The EU Taxonomy ((EU) 2020/852).