The European Banking Federation published a revised position on the data and transition plan elements of the European Commission’s Omnibus proposal, backing efforts to ease administrative burdens and supporting EFRAG’s work to simplify ESRS reporting. It argues that any reporting simplification needs to be matched by parallel changes to supervisory expectations and regulatory requirements so that obligations reflect materiality, proportionality and the practical availability of data. The EBF calls for harmonised, standardised ESG data and better access to existing national datasets to reduce compliance costs and banks’ reliance on proxies. It also cautions against making transition plans overly prescriptive, saying they should remain strategic tools focused on companies’ feasible contributions to decarbonisation while taking account of external factors and regional differences.
European Banking Federation 2025-09-22
European Banking Federation revises Omnibus proposal position, urging aligned supervisory requirements and standardized ESG data
The European Banking Federation (EBF) revised its stance on the European Commission’s Omnibus proposal, advocating for reduced administrative burdens and simplified European Sustainability Reporting Standards (ESRS). The EBF emphasizes harmonized ESG data and improved access to national datasets to lower compliance costs. It warns against overly prescriptive transition plans, suggesting they remain strategic tools for decarbonization, considering external factors and regional differences.