The Socialists and Democrats in the European Parliament are disappointed by the proposals put forward by the European Commission on the “Omnibus package”. These proposals fail to take on board our concerns expressed in repeated meetings with Commission representatives before the publication. Simplification cannot mean questioning our key EU values. These proposals are risking regulatory certainty. They have been rushed and lack proper consideration, consultation and impact assessment.

The Socialists and Democrats are ready to work with the pro-European majority in the European Parliament to simplify rules, provided that we do not put people at risk and endanger existing climate goals. The package refers to four key files, namely the Taxonomy regulation; the Carbon Border Adjustment Mechanism (CBAM); the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD).

Gaby Bischoff, vice-president of the S&D Group for Sustainable Economy, Social Europe and Single Market and S&D co-negotiator on the package, said:

“Our message on the proposed changes in EU law is clear. Simplification cannot mean deregulation. 

"Our Group has always been and remains ready to work to deliver simpler procedures and reporting for businesses and to make life better for citizens.

“We will not accept backtracking on social and environmental standards and established policy goals, no jeopardising of workers' rights, no break to reaching climate neutrality and sustainability. The recently agreed rules on due diligence aim to prevent economic activities from exploiting people and harming the environment. We cannot empty them now in the name of simplification and put profit before people and the planet.

“The Taxonomy regulation for example is essential for mobilising green investments and providing stability to the financial system. It is a good signal that the Commission at least preserves the ‘do no harm’ principle.”

Lara Wolters, S&D MEP and S&D co-negotiator on the package, said:

“The proposed changes to the CSDDD fundamentally undermine its effectiveness, threatening to exclude the vast majority of human rights, labour and environmental harms and stripping away the rights for victims to get justice for corporate wrongdoing.

“Likewise, drastic changes to the CSRD will create significant uncertainty for companies, which risks increasing compliance costs, instead of relieving burdens.

“This is therefore an ill-conceived and ideologically driven proposal. The Parliament must now succeed where the Commission has failed: to simplify without deregulating.”