Ten European National Human Rights Institutions (NHRIs) warned the European Commission’s proposed Omnibus package could harm ongoing EU corporate sustainability and sustainable finance progress.
The Danish Institute for Human Rights joined nine other European NHRIs to write an open letter warning about the possible negative effects of revising Omnibus policy regulations. The signatories understood the importance of policy clarity yet warned about the dangers that newly created business and stakeholder uncertainty could create.
Numerous companies that invested considerable resources into compliance feel their progress could become threatened by this new process according to the letter.
The NHRIs asserted that the EU’s two regulative measures known as the Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CSDDD) emerged from extensive stakeholder outreach and tackle essential sustainability concerns. Most European states finished implementing the CSRD while they continue their work to prepare for the CSDDD.
The signed letter requested that the European Commission honor regulatory integrity by redirecting efforts to implementation assistance through documentation. Future deliberations should prioritize NHRIs as active participants according to the signatories.
Research indicates mounting sectorwide concern after 150 industry authorities signed a letter expressing opposition to the proposal. The discussion reflects the fundamental disagreement between efficient rulemaking and maintaining EU concerns about business sustainability.
