A majority of European companies have voiced dissatisfaction with the European Union’s proposed Omnibus package, which seeks to scale back key provisions of the Corporate Sustainability Reporting Directive (CSRD), according to a new survey by WeAreEurope.
The survey, conducted across 26 countries with over 1,000 respondents—40% of whom hold C-suite roles—found that just 25% support the Omnibus changes, while 51% believe major legislative revisions are necessary to create a workable alternative. In contrast, 61% had expressed satisfaction with the CSRD prior to the announcement of the Omnibus proposals.
The Omnibus package, unveiled on 26 February 2025, aims to reduce reporting obligations for large private companies by 25% and for SMEs by 35%, shrinking the scope of the CSRD from over 50,000 firms to fewer than 7,000. It also delays and scales back reporting timelines. The proposals were released following months of behind-the-scenes negotiations, drawing criticism for their lack of transparency.
Support for the original CSRD remains strong. Only 17% of respondents were dissatisfied with its initial version, with most calling for targeted improvements rather than wholesale changes. Even among firms previously critical of CSRD, only 39% are satisfied with the Omnibus proposals.
Larger companies appear more inclined to back the CSRD, with 67% of firms employing over 5,000 people in favour, compared to 57% of firms with 250–500 employees. Regionally, Nordic and Western European countries—many of which were early adopters of CSRD reporting—expressed greater concern over the Omnibus revisions than their Eastern European counterparts.
The WeAreEurope survey was developed with support from institutions including HEC Paris, York University Ontario, Copenhagen Business School, CERCES, and LMU Munich.
Commenting on the findings, François Gemenne, Professor at HEC Paris and lead author of the IPCC’s 6th Assessment Report, said: “The EU’s decisions on the CSRD will have far-reaching consequences for businesses across the Union; their diverse perspectives should thus be heard and considered. This is exactly how we conceive our role in policy debates: making sure that policy decisions rely on science rather than wind.”
Earlier data from Workiva, published prior to the finalisation of the Omnibus, revealed that 85% of businesses were planning to enhance their climate disclosures regardless of any regulatory changes, underscoring a continued corporate commitment to sustainability.
Despite criticism of implementation costs and the need for clearer technical guidance, 90% of respondents believe that the CSRD would enhance Europe’s economic influence and sovereignty.
