EBF POSITION

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Position of the European Banking Federation on the Omnibus Initiative 

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Brussels, 28 March 2025 – The European Banking Federation (EBF) welcomes the European Commission’s efforts to simplify sustainability reporting through the Omnibus initiative. In its latest position, the EBF calls for the suspension of Green Asset Ratio (GAR) reporting obligations under the Corporate Sustainability Reporting Directive (CSRD) until the full review of the EU Taxonomy Delegated Acts is completed. The EBF also advocates limiting mandatory value chain reporting to companies within the CSRD scope, ensuring consistency across financial sector regulations, and applying ESG reporting requirements only at the group level. These changes are vital to reduce complexity, lower costs, and support a more effective and practical transition to sustainable finance.

You can read the full document here.

For more information:

Denisa Avermaete, Senior Policy Adviser – Sustainable Finance, D.Avermaete@ebf.eu 

About the EBF:

The European Banking Federation is the voice of the European banking sector, bringing together national banking associations from across Europe. The EBF is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere.