• The EU Commission is expected to introduce an Omnibus Package to amend key sustainable finance regulations on 26th February
• Investors warn the move is likely to create legal uncertainty, jeopardise Europe’s long-term economic competitiveness and harm investment if rules are reopened for wholesale revision
• More than 212 financial sector actors, including 163 asset owners and asset managers with a combined €6.6 trillion assets under management, have signed a joint statement calling on the EU Commission to “preserve the integrity and ambition” of the EU’s sustainable finance framework
• The European Sustainable Investment Forum (Eurosif), the Institutional Investors Group on Climate Change (IIGCC) and the Principles for Responsible Investment (PRI) are supporting investors’ call urging EU policymakers to focus on targeted changes to technical standards and clearer implementation guidance.

Led by IIGCC, Eurosif and PRI, Impact Finance Belgium along with more than 200 organisations and investors signed a joint statement to urge the European Commmision to preserve the integrity and ambition of the EU’s sustainable finance framework.

Investors with a combined €6.6 trillion in assets under management have urged the European Commission to “preserve the integrity and ambition” of the EU’s sustainable finance framework. The move comes amid alarm that the EU Commission’s upcoming Omnibus package, expected on 26th February 2025, could lead to the wholesale revision of key sustainability requirements.

The proposed Omnibus Legislation will have a wider implication for the EU Taxonomy, the Corporate Sustainability Reporting Directive (CSRD) and the Due Diligence Directive (CSDDD). Reopening and reversing these key regulations could create legal uncertainty, jeopardise long-term competitiveness and harm investment.

Thus, by endorsing this statement, we call for clarity, consistency and stability across the EU’s sustainable finance framework to ensure more capital flow to close the gap to achieve a more competitive, equitable and prosperous net-zero economy.

READ THE JOINT STATEMENT HERE