Institutional Investors Group on Climate Change backs joint investor call for the European Commission to limit changes to EU sustainable finance rules in the upcoming Omnibus package

The Institutional Investors Group on Climate Change (IIGCC), together with the European Sustainable Investment Forum (Eurosif) and the Principles for Responsible Investment (PRI), has published a joint statement urging the European Commission to “preserve the integrity and ambition” of the EU sustainable finance framework as it prepares an Omnibus package expected on 26 February 2025. The statement, supported by more than 200 financial sector actors including 162 asset owners and asset managers representing a combined EUR 6.6 trillion in assets under management, argues that reopening core rules for wholesale revision would create regulatory uncertainty and risk weakening sustainability disclosures that investors rely on. The statement highlights the EU Taxonomy, the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD) as cornerstone measures and calls for a targeted approach focused on streamlining technical standards and providing clearer implementation guidance rather than rewriting the laws. Suggested improvements include sector-specific guidance where relevant, greater interoperability between European and international reporting standards, and the use of digital solutions to reduce reporting burdens and improve data harmonisation; it also cites evidence that by 2024 European companies had reported EUR 440 billion of Taxonomy-aligned capital expenditure and points to an estimated annual investment gap of EUR 750 to 800 billion.