Omnibus Package: investors urge caution as EU sustainability rules overhauled

A group of over 200 financial sector actors has signed a joint statement addressed to the EU Commission, emphasizing the need to prevent the upcoming Omnibus package, expected at the end of the month as part of the Union's competitiveness efforts, from weakening the "integrity and ambition" of European sustainable finance.

Innovation, sustainability, security at the heart of the Competitiveness Compass

The appeal on the "Omnibus Proposal" - which foresees a simplification of the Union's sustainability regulations - is promoted by the Institutional Investors Group on Climate Change (IIGCC), the European Forum for Sustainable Investment (Eurosif), and Principles for Responsible Investment (PRI), three of the main European investor organizations.

The concern of the over 200 investors, including 162 asset managers and asset owners managing approximately 6.6 trillion euros in assets, is that a legislative body weakened by an overly extensive regulatory review could negatively impact investments supporting the Green Deal and the EU's economic competitiveness. The call to legislators is therefore to focus on targeted changes and clear guidance for companies on implementing European regulations.