🚨🚨 @ec.europa.eu has today with a lot of political signposting ("simplification promised, simplification delivered") adopted a new package of proposals to simplify EU rules, boost competitiveness, and unlock additional investment capacity ( #Omnibus I and #Omnibus II). 🧵 ec.europa.eu/commission/p... - ThreadSky

profjacob.bsky.social • 1 day ago

🚨🚨 @ec.europa.eu has today with a lot of political signposting ("simplification promised, simplification delivered") adopted a new package of proposals to simplify EU rules, boost competitiveness, and unlock additional investment capacity ( #Omnibus I and #Omnibus II). 🧵 https://ec.europa.eu/commission/presscorner/detail/en/ip_25_614

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profjacob.bsky.social•1 day ago

The Commission's idea (which sounds not logically coherent) is to bring competitiveness and climate goals together creating the conditions for EU businesses to thrive, attract investment and also achieve the European Green Deal objectives – and unlocking the EU's full economic potential. /2

profjacob.bsky.social•1 day ago

The Commission has a target to deliver an unprecedented simplification effort, by achieving at least 25% reduction in administrative burdens, and at least 35% for SMEs until the end of this mandate. /3

profjacob.bsky.social•1 day ago

These first ‘Omnibus' packages entails to cover a far-reaching simplification of rules in the fields of sustainable finance reporting, sustainability due diligence, EU Taxonomy, carbon border adjustment mechanism, and European investment programmes. /4

profjacob.bsky.social•1 day ago

The proposals seek to reduce complexity of EU requirements for all biz, notably SMEs and small mid-caps focus the regulatory framework on the biggest firms which are likely to have a bigger impact on the environment while still enabling firms to access sustainable finance for their clean transition.

profjacob.bsky.social•1 day ago

If adopted and implemented, the proposals are conservatively estimated according to COM to bring total savings in annual administrative costs of around €6.3 billion and to mobilise additional public and private investment capacity of €50 billion to support policy priorities. /6

profjacob.bsky.social•1 day ago

Specifically, the main changes in the area of sustainability reporting (CSRD and EU Taxonomy) is to remove around 80% of firms from the scope of CSRD, focusing the sustainability reporting obligations on the largest firms which are more likely to have the biggest impacts on people & the environment.

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