The omnibus simplification initiative of the European Commission is an opportunity to refocus on the core elements that are needed to achieve the EU environmental objectives. It is a logical step in the context of the European Commission’s policies and initiatives outlined in the recently published competitiveness compass. Europe’s global competitiveness and climate goals can and should go hand in hand.
The European Commission’s Omnibus Simplification Initiative is a significant step towards aligning Europe’s competitiveness with sustainability. The EBF has outlined key recommendations to ensure the Omnibus Simplification Initiative achieves its goals without compromising the EU’s sustainability and competitiveness objectives.
The European Banking Federation (EBF) has submitted its response to the European Commission’s consultation on the Taxonomy Disclosures Delegated Act. While welcoming the initial steps toward simplification, EBF highlights that substantial challenges for banks remain.
The European Banking Federation (EBF) has submitted a letter to the European Commission, European Banking Authority (EBA), and the European Central Bank (ECB) regarding the ongoing ESG Omnibus initiative. In the letter, the EBF welcomes the simplification efforts but stresses the need for these changes to be fully reflected in financial sector regulation and supervision. The letter highlights the importance of clear communication, streamlined ESG risk management expectations, and better facilitation of ESG data access.
EBF proposal for changes to the Corporate Sustainability Reporting Directive 2013/34/EU (CSRD)
ESRS Set 1 revision: Questionnaire for public feedback – EBF RESPONSE
The European Banking Federation (EBF) urges EFRAG to simplify the European Sustainability Reporting Standards (ESRS) by adopting a more practical, principles-based approach that reduces complexity, aligns with existing financial reporting frameworks, and minimizes undue costs and efforts for preparers, particularly in the banking sector.
EU Banks for Ukraine
