Brussels, October 8, 2025 – The European Commission’s Omnibus I package, designed to simplify sustainability reporting and enhance EU competitiveness, took centre stage at a Euractiv debate supported by TIC Council. Industry leaders, policymakers, and experts gathered to discuss how the revised Corporate Sustainability Reporting Directive (CSRD) aims to strengthen Europe’s competitive edge.
Elena Arveras, Cabinet Member to European Commissioner for Financial Services, Adrián Vázquez Lázara, MEP, Gemma Sánchez-Danes, Director at EFRAG Sustainability Reporting Leadership Team, and Géraldine Picaud, CEO of SGS were the guests of Euractiv’s Jennifer Baker, who moderated a conversation around the need for standardized and reliable sustainability information. Elena Arveras, Cabinet Member to European Commissioner for Financial Services, Adrián Vázquez Lázara, MEP, Gemma Sánchez-Danes, Director at EFRAG Sustainability Reporting Leadership Team, and Géraldine Picaud, CEO of SGS, were the guests of Euractiv’s Jennifer Baker, who moderated a conversation around the need for standardized and reliable sustainability information. The panellists discussed the challenges and opportunities presented by the CSRD, particularly the balance between environmental accountability and the race for competitiveness in an increasingly strained geopolitical and economic global environment.
Key Highlights:
Sustainability as a Competitive Edge: Panellists highlighted that sustainability is increasingly seen not as a burden but as a critical element of long-term competitiveness. The simplification of reporting under the Omnibus package could enable companies to leverage sustainability as a strategic advantage.
Importance of Double Materiality: The concept of double materiality, which combines financial and non-financial risks, was discussed as essential for ensuring that companies not only report their environmental impacts but also their broader sustainability risks. Elena Arveras from the Cabinet of Maria Luís Albuquerque, European Commissioner for Financial Services and the Savings and Investments Union, said that “Sustainability and competitiveness go hand in hand, driving long-term value while reducing risk.” She further stressed that reliable information is essential to build trust, guide decisions, and unlock sustainable growth.
Streamlining Audits: To address concerns about the complexity and cost of sustainability reporting, Géraldine Picaud, CEO of SGS, called for the mandatory opening of markets to all Independent Assurance Service Providers (IAPS) to streamline audits, reduce costs, and increase trust in sustainability disclosures. She emphasised the importance of aligning sustainability reporting with the management system certifications already implemented by companies, notably environmental management standards (ISO 14000) and energy management standards (ISO 50000) by the TIC industry. This would enable SMEs to leverage their existing certificates and larger companies to monitor their supply chains to reduce duplication of effort and increase competitiveness. Last but not least, leveraging existing mechanisms will reduce costs and administrative burdens while providing reliable scientific data. The simplification of auditing requirements would ensure that reporting obligations are more manageable and focused on the most material elements of sustainability. Adrián Vázquez Lázara, MEP, stated: "At a time of political and economic uncertainty, Europe must make life easier for its companies. We cannot afford to place more obstacles in their path or turn sustainability obligations into a cage that holds them back. We all share the goal of a more sustainable future.”
Overall, the debate underlined the importance of balancing regulatory ambition with actionable solutions that support companies’ sustainability efforts. Géraldine Picaud said: “To move ahead, we need to be pragmatic and provide actionable solutions. It is not necessary to provide 1,000 data points to demonstrate ESG compliance; what is needed is a cost-effective technical audit based on field expertise and robust scientific data, sourced from existing certified management systems. There is no need to reinvent the wheel!”
About TIC Council
TIC Council is the global trade association representing the independent third-party Testing, Inspection and Certification (TIC) industry which brings together about 100-member companies and organizations from around the world to speak with one voice. Its members provide services across a wide range of sectors: consumer products, medical devices, petroleum, mining and metals, food, and agriculture among others. Through provision of these services, TIC Council members assure that not only regulatory requirements are met, but also that reliability, economic value, and sustainability are enhanced. TIC Council’s members are present in more than 160 countries and the wider TIC sector currently employs more than 1 million people across the globe.
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