This week’s ‘EU Omnibus’ developments

Lara Wolters gave a rousing speech on Thursday, describing the Omnibus package as “political opportunism” and “the chance for some to chase a dream of deregulation they long for”.

The Dutch MEP, who oversaw the development of the Corporate Sustainability Due Diligence Directive (CS3D), said the upcoming proposal was not being worked on by “policy wonks and experts” and had not undergone a credible stakeholder consultation.

“Next week, four separate oil companies are among the 31 invited” to a closed-door discussion about the Omnibus, Wolters claimed during her keynote speech.

More requests from business

She appeared to be referring to a “simplification roundtable” due to be hosted by Commissioner Valdis Dombrovskis in Brussels on Thursday.

According to an agenda circulating online, invited guests will discuss the future of the Corporate Sustainability Reporting Directive (CSRD), CS3D, the Taxonomy Regulation and the Carbon Border Adjustment Mechanism.

Each file will have an hour dedicated to it, along with another hour for “small mid-caps and paperless reporting”. An hour and 20 minutes is assigned for lunch.

The session’s invitees have not been publicly disclosed, but if the Oil & Gas industry has a strong presence, as Wolters suggests, then the conversation is likely to go beyond simplification.

The International Association of Oil & Gas Producers recently described the Omnibus as “a timely opportunity to readjust course”.

In its public position, the industry body said sustainability rules should be streamlined and refined to align more with “international best practices” and help Europe “foster a more business-friendly environment”.

It outlined its vision for each file, which includes adding “early-stage decarbonisation efforts and transitional technologies” to the taxonomy, and called for the EU Methane Emissions Regulation to be included in the package.

Eurochambres, the membership body for European SMEs and business chambers, is hosting its own event on the Omnibus in coming days, where it will “shape a wishlist for the Omnibus Simplification Package to ease the regulatory burden”.

During the gathering on Tuesday, it will use Europe’s Green Deal “as a case study on both the scale of the challenge and the ways in which it can be addressed”.

Leaked draft

In a leaked draft of proposals for “implementation and simplification”, the Commission reiterated its commitment to introduce biannual ‘reality checks’ so that businesses can tell policymakers whether laws are working efficiently.

It also said it would launch a “simplification advisory group” made up of national bodies, businesses, NGOs and trade unions, which will identify priority areas and further potential for regulatory reductions.

But, when it comes to the Omnibus, the document simply had a placeholder where the final proposals will be, accompanied with a request from the Commission for European Parliament and Council to treat the issue as a priority when the final document is published.