Participants of this virtual roundtable explored the implications of the European Commission’s Omnibus I package, which proposes significant changes to the EU’s flagship sustainability reporting and due diligence frameworks. As policymakers seek to balance environmental ambitions with concerns around competitiveness and regulatory burden, the discussion considered how reporting standards can be simplified without undermining transparency, investor confidence or long-term sustainability objectives. Particular attention was given to the practical impact on UK businesses operating across European markets and the role of proportionate frameworks for smaller companies.
Key contributors:
The panel discussed the tension between reducing compliance burdens and preserving the integrity of the EU’s Green Deal framework, noting that political priorities have increasingly shifted towards growth and competitiveness. The conversation highlighted that despite proposals to narrow the scope of mandatory reporting, sustainability disclosures are expected to remain a central feature of business and investment decision-making. Participants also explored the growing importance of voluntary reporting among SMEs, the potential of streamlined frameworks such as the Voluntary SME Standard (VSME), and the challenges facing UK businesses navigating overlapping international reporting regimes. A recurring theme was the need to present sustainability as an enabler of long-term economic success, supported by clearer guidance, greater regulatory interoperability and more effective communication of positive outcomes.
