'Business views on the EU omnibus proposal', 17 January 2025

…The undersigned companies and industry associations continue to support the goals of the European Union’s sustainability due diligence and company reporting rules... We write now to urge at this critical juncture that you focus on delivering the much-needed practical implementation of these rules.

Investment and competitiveness are founded on policy certainty and legal predictability. The announcement that the European Commission will bring forward an “omnibus” initiative that could include revisiting existing legislation risks undermining both of these.

We welcome your public commitment to maintain the content of the relevant legislation and limit any changes to those that reduce redundant or overlapping reporting requirements. However, we are concerned about the potential for others to use this process to call for the legislation to be reopened for political renegotiation. Parts of the legislation are already in force, and companies have already invested significant resources in preparing for and meeting the new requirements. Predictability is critical to the ability of all actors, including businesses, to make informed decisions.

Therefore, we urge the European Commission to publicly clarify that this “omnibus approach”, if embarked upon, will not allow already agreed and adopted legal texts to be reopened for renegotiation.

We are particularly concerned about the potential reopening of the Corporate Sustainability Due Diligence Directive (CSDDD), especially as the CSDDD does not introduce any overlapping reporting requirements...

The most practical step the European Commission can take to support future competitiveness is to focus on developing the clear and practical guidance needed to support businesses in implementing the CSDDD. This must include publishing and proceeding with the planned consultation...

The European Union’s due diligence and reporting rules are based on authoritative and established international sustainability due diligence standards which many companies have spent years putting into practice...

We stand ready to work together to harness the potential benefits of the EU’s approach to corporate due diligence and reporting, which include creating a level playing field for the reward and recognition of robust, holistic business performance. We are certain that with clear guidance and support from the European Commission, implementation of the existing rules will be both practical and workable for companies, working people, consumers, and the European economy.

[The full letter including list of signatories is available for download above.]