Today, 198 signatories, including 80 investors and financial institutions, 29 companies, 42 service providers, and 43 supporting organisations have come together to urge policymakers to preserve the core elements of the EU’s sustainable finance framework.
The signatories warn that current proposals risk weakening key tools needed to deliver the EU’s climate, economic and competitiveness goals. Transparency and responsible business conducts are conducive to competitiveness and long-term value creation. High-quality and comparable corporate sustainability information is fundamental to guide investment decisions and manage ESG risks effectively. Moreover, due diligence rules are foundational to resilient business models and sustainable growth.
In the context of the Omnibus developments, EU investors and organisations call for:
- Maintaining the principle of double materiality reporting and alignment with international reporting standards;
- Including companies with 500+ employees in the scope of the Corporate Sustainability Reporting Directive (CSRD);
- Ensuring the value chain cap allows for constructive exchange of sustainability information;
- Safeguarding core elements of the Corporate Sustainability Due Diligence Directive (CSDDD), such as risk-based corporate due diligence and the adoption and implementation of transition plans;
- The statement stresses that simplification can be achieved without undermining the core of these sustainability rules. A stable and ambitious policy environment is key to empowering responsible businesses and investors to contribute to the EU’s sustainable future.
Read the full joint statement here.
*Disclaimer: please note that the number of signatories is correct as of Monday 30 June, after an initial twenty-day sign-on period. This joint statement is still open for signatures. Interested organisations can sign until Friday 29 August COB using this form.
