Scholarly record
THE EUROPEAN COMMISSION-S OMNIBUS PROJECT FROM THE COMPANIES- PERSPECTIVE - A REVIEW AND SWOT ANALYSIS OF THE SIMPLIFICATION OF THE EU SUSTAINABLE FINANCE FRAMEWORK
Abstract
a) The Omnibus project was launched by the European Commission on 26 February 2025 as a response to the Report of the former President of the European Central Bank, Mario Draghi, calling for a new plan for Europe-s sustainable prosperity and competitiveness. The Project aims at simplifying the provisions of the Corporate Sustainability Reporting Directive, the Corporate Sustainability Due Diligence Directive and the EU Taxonomy, being the legislation tool and driver to meet the sustainable development and sustainable finance objectives of the EU. Considering the complexity of the external environment, the purpose of this paper is to analyse the impact of the proposed changes in the key regulations, which design the EU sustainability landscape. A SWOT analysis was used as a methodology to outline the main internal and external factors that might affect the future companies- performance, sustainability strategy and goals. The analysis reveals that the Omnibus project offers significant benefits, including reduced compliance burden, improved clarity, and increased flexibility for companies, especially for small and medium-sized enterprises. It provides new opportunities for innovation, improved ESG strategies, and enhanced global competitiveness. However, it also implies a few weaknesses and risks, such as reduced transparency, inconsistent implementation across EU member states, and misalignment with investor expectations. Key threats include investor scepticism, regulatory uncertainty, and potential weakening of the EU-s climate neutrality goal. These findings raise important strategic considerations and lead to policy recommendations aimed at balancing simplification with the integrity and effectiveness of the EU sustainable finance framework.
Publication Impact Profile
- Captures
- Mendeley - Readers: 2
Publication details
References11
Migacz, E., Jurek, J., Korenda, N., Poremba, W. & Rasztar, J., Analysis of the European Green Deal Based on ESG Aspects and How Companies Implement this European Sustainability Reporting Standards (ESRS). In: Proceedings of 24th International Multidisciplinary Scientific GeoConference SGEM 2024, Vol. 24, Iss. 5. 1, (2024), DOI: 10.5593/sgem2024/5.1/s23.94.
Draghi, M., The Draghi report: A competitiveness strategy for Europe, Part A & Part B, September 2024, https://commission.europa.eu/topics/eu-competitiveness/draghi-report_en .
Draghi�s report on the future of European competitiveness: a blueprint for Europe�s demographic and regional cohesion, October 2024, https://ec.europa.eu/regional_policy/whats-new/newsroom/23-10-2024-draghi-s-report-on-the-future-of-european-competitiveness-a-blueprint-for-europe-s-demographic-and-regional-cohesion_en .
Secretariat-General of the European Commission, Omnibus I, February 2025a, https://commission.europa.eu/publications/omnibus-i_en .
Secretariat-General of the European Commission, Omnibus II, February 2025b, https://commission.europa.eu/publications/omnibus-ii_en
Directorate-General for Communication of the European Commission, Commission proposes to cut red tape and simplify business environment, February 2025, https://commission.europa.eu/news/commission-proposes-cut-red-tape-and-simplify-business-environment-2025-02-26_en .
Accountancy Europe, Omnibus explained: key changes to sustainability reporting standards, March 2025, https://accountancyeurope.eu/publications/omnibus-explained-key-changes-to-sustainability-reporting-standards/
Investor joint statement on European Commission�s �omnibus legislation�, February2025, https://www.unpri.org/eu-policy/investor-joint-statement-on-european-commissions-omnibus-legislation/13025.article .
EFRAG, EFRAG SRB Releases Statement on Omnibus Proposals, February 2025, https://www.efrag.org/en/news-and-calendar/news/efrag-srb-releases-statement-on-omnibus-proposals
Buboi (Danaila), A. The Auditor�s Role in Corporate Sustainability Reporting, In: Proceedings of 23rd International Multidisciplinary Scientific GeoConference SGEM 2023, Vol. 23, Iss. 5.1, (2023), DOI: 10.5593/sgem2023/5.1/s23.82.
Gourel, T. & Tat, M., SWOT analysis: a theoretical review, The Journal of International Social Research, Vol 10 (51), August 2017, Doi: https://doi.org/ DOI: 10.17719/jisr.2017.1832
View or Download full articleAccess options
SWS access login
Login as SWS Scientific CommitteeLogin as SWS Scientific PartnerLogin as SWS AuthorAuthors and approved SWS contributors will read and export their own linked papers after identity matching by SWS profile, email and SGEM GlobalID.
For librarian assistance: [email protected]
Purchase Instant Access
- Article can be downloaded after successful payment.
- Article may be used according to SWS library access terms.
- Article cannot be redistributed.