Omnibus Simplification Package

The main focus of the 2024-2029 mandate is on regulatory simplification to reduce the administrative burdens placed on businesses and boost European competitiveness on the global market. The Commission’s objective is to cut administrative burdens by at least 25% overall and by at least 35% for SMEs.

The Omnibus I Simplification Package on sustainability is the first step of the EU’s simplification efforts. Published in February 2025, it aims to simplify rules under:

  • Corporate Sustainability Reporting Directive (CSRD)
  • Corporate Sustainability Due Diligence Directive (CSDDD)
  • EU Taxonomy
  • Carbon Border Adjustment Mechanism (CBAM)

Further Omnibus packages, including for chemicals and environment, are expected in 2025 and 2026.

Why is it important?

Precious metals companies manage complex global supply chains and face overlapping reporting obligations under the CSRD and CSDDD. The Omnibus Simplification Package will reduce the number of companies covered by mandatory reporting by 80%, remove unnecessary sector-specific standards, extend implementation deadlines, and ensure that double-reporting is avoided. For the precious metals sector – which depends on extensive supply chains and robust reporting on responsible sourcing – the simplifications will help companies focus resources where they are most impactful, while still meeting the EU’s sustainability ambitions.

EPMF Position

  • Promote coherence across EU due diligence and reporting legislation (including the EU Conflict Minerals Regulation), while reducing the regulatory burden and creating the conditions to meet the CRMA objectives.
  • Ensure consistency with internationally recognised standards and principles
  • Secure harmonisation of the CS3D and CSRD implementation across EU Member States and a timely transposition.
  • The important role of voluntary sustainability and due diligence standards such as the LBMA Responsible Gold Guidance should be recognised across the different EU due diligence legislations.
  • Preserve a strong proportionate risk-based approach.

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