As part of its efforts to boost EU competitiveness, the European Commission is poised to publish its first Omnibus regulation - officially kicking off the EU simplification agenda. This initial package will tackle corporate sustainability reporting and accountability - the core of the EU's current sustainable finance framework. Concerning rumors are flying around. Back in Davos, the Commission President Von der Leyen said: “We will be pragmatic, but we will always stand by our principles. We will protect our interests and uphold our values – because that is the European way”. The promise has always been “simplification without deregulation”, but lately the soundbite has changed. Reopening agreed legislation, now considered too onerous, is on the table - or even completely scratching basic principles of sustainability reporting to align with international standards. (....)