CDP published a statement reacting to the European Commission’s Omnibus Simplification Package, warning that the legislative proposal could weaken sustainability disclosure and undermine market transparency despite the aim of enhancing business efficiency. It argued that sustainability disclosure is already a core business practice in Europe and that investors need robust, comparable data to assess environmental risks and opportunities across company sizes. The organisation cautioned against removing sector-specific standards under the CSRD, saying businesses need clear sectoral guidance for meaningful materiality assessments, and opposed removing around 80% of companies from the CSRD scope and delaying its application, including exempting listed SMEs. CDP also warned against delaying and weakening CSDDD obligations, including removing the review clause for financial institutions, describing the directive as the only Omnibus element that requires companies to act rather than only report; it pointed to 2030 as a critical milestone and cited CDP-reported figures of EUR 3.47 trillion in climate opportunities versus EUR 620 billion in costs, as well as over 12,500 companies using CDP’s SME questionnaire.
CDP 2025-02-26
CDP cautions EU Omnibus simplification package against narrowing CSRD scope and weakening CSDDD obligations
CDP criticized the European Commission’s Omnibus Simplification Package, warning it could weaken sustainability disclosure and market transparency. The organization opposed removing sector-specific standards and reducing the scope of the Corporate Sustainability Reporting Directive (CSRD), emphasizing the need for robust data for environmental risk assessment. CDP also cautioned against delaying Corporate Sustainability Due Diligence Directive (CSDDD) obligations, highlighting its importance for company action.