The European Commission's ‘omnibus’ package, set for release on 26 February, aims to simplify EU regulations. While the EPP welcomes the reduction of administrative burdens, particularly for SMEs, left-leaning parties, including S&D and the Greens, fear it could lead to deregulation. Key changes involve corporate reporting obligations under CSRD and CSDDD, with debates over their scope and impact on human rights and environmental protections.

CBAM Reform Sees Broader Consensus

The Carbon Border Adjustment Mechanism (CBAM) will be included in the reform, shifting from a price-based threshold to a CO2 volume-based system. This could exempt 91% of companies currently affected. While the EPP supports this adjustment, Socialists remain cautious but open to improvements. The question of export support remains unresolved, with industry representatives urging solutions to protect EU green steel exports.