What the Omnibus Package I would mean for the minerals and metals sector

On February 26, the EU Commission introduced a proposal for a so-called ‘Omnibus Simplification Package’ aimed at streamlining key EU sustainability legislation on sustainability reporting, due diligence and taxonomy. This package would bring significant changes to the original text of the Corporate Sustainability Due Diligence Directive (CSDDD) adopted by the EU last year that would weaken it substantially and risks undermining the EU’s credibility and strategic leadership in responsible sourcing and corporate accountability. Furthermore, this process lacked meaningful consultation and had little regard for policy coherence. This statement provides a brief overview of what the envisaged changes under the Omnibus Package I would mean for the minerals and metals sector, identifying three focal aspects.