Innovation, sustainability, security at the heart of the Competitiveness Compass
The unveiling of the new Omnibus Proposal Package (Omnibus I and Omnibus II) coincided with the presentation of the Clean Industrial Deal by the EU Executive.
Specifically, the Omnibus Package aims to consolidate and simplify sustainability regulations, which are the cornerstone of the European Green Deal, reducing administrative burdens on businesses by 25% (and 35% for SMEs) by the end of the Commission's mandate in 2029.
According to the Competitiveness Compass, the "Simplification Omnibus Package" initiates a broad simplification process in the fields of sustainable financial reporting, sustainability due diligence, and taxonomy. The simplification process also involves the InvestEU program (aimed at unlocking additional investment capacity) and the CBAM (Carbon Border Adjustment Mechanism).
