FOCUS The European Commission’s Omnibus I and II packages 2

1. Foreword
2. The Omnibus I package
3. The Omnibus II package
4. Initial considerations

UPDATES
European Union

1. Commission Delegated Regulation (EU) 2025/422 of 17 December 2024
2. Commission Notice C/2025/1373 on the interpretation and implementation of certain legal provisions of the EU Taxonomy Environmental Delegated Act, the EU Taxonomy Climate Delegated Act and the EU Taxonomy Disclosures Delegated Act
3. The EBA report on ESG risks and credit exposures
4. The Platform on Sustainable Finance report on the simplification of the EU taxonomy
5. The EBA’s new guidelines on ESG risk management

Italy

6. The Bank of Italy’s analysis of ESG disclosures on a sample of Italian and European banks
7. Consob’s analysis of the disclosure of ESG objectives in the business plans of a sample of Italian companies
8. Consob Resolution No. 23463 on amendments to the Issuers’ Regulation on corporate sustainability reporting
9. Consob’s Call for attention No. 1/25
10. Consob’s insight into greenwashing and consumer protection for a sustainable economy

United Kingdom

11. The Loan Market Association’s update to the principles applicable to green, social and sustainability-linked financing and related guidelines
12. The Prudential Regulation Authority’s 2025 Climate Change Adaptation Report
13. FCA report on climate change adaptation challenges faced by financial services firms
14. The Financial Reporting Council’s first thematic review of the climate-related financial information of AIM and large private companies or LLPs
15. The Green Loan Terms of the Loan Market Association