Hello everyone,
This week, the European Council approved Omnibus I.
However, attempts to further reduce the number of reporting requirements and further weaken the European Sustainability Reporting Standards (ESRS) are still ongoing. The European Commission will finalize the ESRS mid-year, and lobby groups that previously pushed to weaken CSRD/CSDDD are continuing their efforts behind closed doors.
In response, WWF has organized a civil society response calling for the maintenance of the remaining key reporting pillars of the standards
The letter is addressed to the President and Secretary-General of the European Commission, relevant Vice-Presidents and Commissioners, key MEPs, and Member State representatives. Also, it will be shared publicly on social media and with the press.
Please read and sign the letter: Deadline 6 March
For more on why this matters and context, please see WFF"s email below. If you have any questions, I’d be happy to try and answer.
Lastly, feel free to share it with any other civil society organisations that may be interested.
Best,
Tom
Advocacy Coordinator Wikirate
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Good afternoon everyone,
As you may know, the European Commission is currently revising the European Sustainability Reporting Standards (ESRS) as part of the Omnibus I Simplification package. In light of this process — and in response to significant industry pressure to further deregulate the standards — WWF, with the support of Frank Bold, has put forward the following joint statement:
Strong Standards for a Resilient Europe: Protecting the Ambition of the ESRS
We invite you to co-sign the statement by adding the name and logo of your organization at the end of the document.
Why the political developments around this file matter
The European Sustainability Standards set out what and how companies must report on sustainability. This includes information about labour rights, environmental and nature protection, climate action, and the risks and impacts companies have on society. Strong standards are essential for corporate transparency and accountability. Without them, corporate transparency and accountability is at risk.
Under the Omnibus I initiative, the European Financial Reporting Advisory Group (EFRAG) has already reduced the required data points by more than 65%. Further reductions are now being pushed, with strong lobbying from parts of the industry.
Europe faces a choice: move towards further deregulation, or protect the public interest and limit the influence of large corporations.
We plan to circulate the statement broadly among civil society organizations. Please feel free to share it within your networks and to suggest additional organizations or contacts who may be interested in supporting this initiative.
Should you have any substantive comments — particularly regarding any red lines that might prevent you from signing — please do not hesitate to reach out.
We will collect signatures until 6 March and go public on 9 March. It will be shared with the President and Secretary-General of the European Commission, relevant Vice-Presidents, Commissioners and DGs, MEPs from key committees, and key Member State representatives. It will also be published on social media and shared with the press.
Thank you in advance for your consideration and support.
Best regards,
Mariana Ferreira