Position Paper on the Omnibus simplification directive
The Institut de la Finance Durable and Paris Europlace welcome the European Commission’s simplification initiative
The Institut de la Finance Durable (IFD) and Paris Europlace have expressed their support for the recent simplification initiative launched by the European Commission. This initiative must be implemented in line with the objectives of the Green Pact for Europe, reflecting the need for ecological transition. It also aims to ensure regulatory alignment along the entire financial value chain, while reducing European investors’ over-dependence on ESG data providers.
In this context, any revision, particularly of the CSRD and taxonomy, must be based on six key elements that should serve as the course for this simplification:
- Focus on relevant data
- Harmonize regulations along the entire financial value chain
- Maintain the principle of dual materiality while promoting interoperability
- Enhance clarity and consistency to ensure legal certainty and stability
- Ensure the clarity and relevance of ‘sector agnostic’ standards for all companies in a context of abolishing sector-specific standards
- Ensure a level playing field and comparability between similar companies, regardless of location