• The signatories support simplifying the CSRD and CSDDD as part of the Omnibus I initiative, but insist on retaining their core purpose.
• They require clear and stable rules that support Europe’s transition to a sustainable, low-carbon economy.
• The joint statement is open for more institutions to sign until 29 August 2025.

A cohort of 198 signatories has released a joint statement urging strong EU sustainability and climate reporting rules.

So far, the 198 signatories include 84 investors and financial institutions, 29 companies, 42 service providers, and 43 supporting organisations. The number is expected to rise, as the deadline to sign is open until 29 August 2025.

These organisations, which signed the statement, say that rules on sustainability reporting, transition plans, climate targets, and corporate due diligence are paramount for the EU’s economic success and environmental goals. These rules form part of the groundwork of the EU's sustainable finance framework, and improving their application should be a priority.

READ MORE: EU to Expressly Set Out Sustainability Reporting Rules by October

According to the organisations, through better transparency and responsible business practices, the EU's sustainability rules will promote competitiveness, augur well for economic prospects, and create long-term value for companies and investors.

Also, companies following these rules are at an advantage, better prepared for social and environmental risks, more resilient, and enjoy a vantage point to communicate their sustainability achievements to investors and financial markets.

While the Omnibus I simplification initiative is reviewing and simplifying EU rules, the signatories insist on retaining the core elements of the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD), two prominent sustainability reporting initiatives, as they play an important role in meeting the EU's broader sustainability, growth, and competitiveness goals.

ALSO READ: EU Weighs Omnibus Proposal, Insurers Left Out of CSRD: Report

For more information and a detailed analysis of the joint statement, click here.

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