Is the omnibus proposal already having an impact on businesses?
With environmental issues, physical resources and the geopolitical context, we see the CSRD as a tool that enables companies to address their insurability and provide investors and customers with information about their sustainability. BlackRock [the world’s largest asset manager, ed.] has stated that it will no longer talk about [environmental, social and governance] at all. Except that they are continuing to make environmentally and socially responsible investments. So they don’t talk about it anymore, but in reality they are implementing the policy. The Chinese have also adopted the double materiality matrix. The issue is not just about simplification, because investors will still ask for the information they need to make their decisions. So the CSRD is just a format, and if it didn’t exist, they would send out a questionnaire with 45 questions that would have to be completed in order to obtain the necessary funds. Everyone says that the CSRD is a difficult exercise, but if it were easy, it wouldn’t achieve anything. It brings new issues to the table and helps drive further transformation, which is good news.
