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JOINT PRESS RELEASE Prominent economists across the EU warn of the deep costs of weakening sustainability regulations
Brussels, 19th May 2025. Today, over 90 prominent economists from the EU have issued a warning regarding the European Commission’s Omnibus I package, claiming it poses a significant setback that could jeopardise the EU’s global leadership in sustainability and human rights. The economists argue in their common statement that attempts to dilute the Corporate Sustainability Due Diligence Directive (CSDDD) and the Corporate Sustainability Reporting Directive (CSRD) within the European Commission Omnibus I package are not only politically short-sighted but also economically unfounded. They urged the European Commission, the EU Council, and the members of the European Parliament to ensure a timely and ambitious implementation of the CSDDD and other regulations of the European Green Deal.
Economic choices are political choices. With the Omnibus proposal, the European Commission is choosing to reward short-sighted corporate lobbying at the expense of people, planet, and long-term economic resilience
Prof. Johannes Jäger states
The economists’ joint statement dismantles the assertion that sustainability regulations adversely impact competitiveness. Instead, they elucidate the underlying structural factors contributing to Europe’s economic deceleration, which range from decades of investment backlog in public infrastructure and public services due to the decline in domestic demand in Europe, to low-wage policies and the redistribution of welfare gains from bottom to top. Furthermore, they stress that sustainability regulations are beginning to take effect, and any modifications to existing frameworks could significantly undermine the legal structure and create uncertainty for investors.
Key findings
- Negligible compliance costs for large companies in implementing due diligence obligations — just 0.009% of revenues on average (London School of Economics study).
- Companies support due diligence obligations; for example, only 7% of German firms oppose such measures (Handelsblatt Research Institute, 2024).
- Risks to investor confidence and regulatory coherence if sustainability rules are rolled back.
MEDIA CONTACT:
Susana Hernandez, Corporate Power & Human Rights Officer, hernandez(at)cidse.org
SIGNATORIES
AUSTRIA
1.Prof. Dr.Johannes Jäger, University of Applied Sciences BFi Vienna
2.Dr. Rainer Bartel, JKU Linz
3. Prof. Dr., Ph.D. Michael Getzner, TU Wien
4. Ao. Univ. Prof. Dr. Andreas Novy, Vienna University of Economics and Business
5. Dr. Leonhard Plank, TU Wien
6. Director Werner Raza, Austrian Foundation for Development Research
7. Prof. (FH) Mag. Dr. Christian Reiner, Lauder Business School
8. Prof. Dr. Sigrid Stagl, Vienna University of Economics and Business
9. Dr. Sebastian Thieme, Katholische Sozialakademie Österreichs (Wien)
BELGIUM
10. Professeur émérite Isabelle Cassiers, Université catholique de Louvain
11. Prof. Dr. Ferdi De Ville, Ghent University
12. Prof. Dr. Clément Fontan, UcLouvain
13. Prof. Dr. Erik Paredis, Ghent University
14. Prof. Dr. Cathy Macharis, Vrije Universiteit Brussel
15. Prof. Dr. Kevin Maréchal, Université de Liège
16. Prof. Koen Schoors, University of Ghent
17. Dr. Norman Vander Putten, UcLouvain
18. Prof. Dr. Jonas Van der Slycken, Ghent University & Vrije Universiteit Brussel
19. Dr. Hielke Van Doorslaer, University of Ghent
20. Dr. Josefine Vanhille, University of Antwerp
21. Prof. Dr. Mattias Vermeiren, University of Ghent
FRANCE
22. Prof. Laurence Scialom, Université Paris Nanterre
23. Ass. Prof. Jézabel Couppey- Soubeyran, Paris 1 Panthéon-Sorbonne University
24. Prof. Dr. Agnès Labrousse, Sciences Po Lyon
25. Director of Research Emeritus Pascal Petit, Sorbonne Paris Nord
26. Researcher Gaël Plumecocq, INRAE of Toulouse
27. Prof. Dr. Yamina Tadjeddine, Université de Lorraine
28. Ass. Prof, Dr. Christophe Thibierge, ESCP Business School
GERMANY
29. Prof. Dr. Isabella Weber, University of Massachusetts Amherst
30. Dr. Julian Bank, Universität Duisburg-Essen
31. Dr. Tom Bauermann, Hans-Böckler-Stiftung
32. Prof. Dr. Silke Bustamante, HWR Berlin
33. Dr. Thomas Dürmeier, Goliathwatch e.V.
34. Prof. Dr. Trevor Evans, HWR Berlin
35. Jun.-Prof. Dr. Svenja Flechtner, Universität Siegen
36. Prof. Dr. habil. Lisa Fröhlich, Ispira Think Tank für nachhaltige Lieferketten
37. Prof. Dr. Eckhard Hein, HWR Berlin
38. Prof. Dr. (i.R.) Hansjörg Herr, HWR Berlin
39. Dr. Frank Hoffer, Global Labour University
40. Dr. Patrick Kaczmarczyk, Universität Mannheim
41. Prof. Dr. Jakob Kapeller, Universität Duisburg-Essen
42. Dr. Steffen Lehndorff, Institut Arbeit und Qualifikation / University of Duisburg-Essen
43. Prof. Dr. Martina Metzger, Hochschule für Wirtschaft und Recht Berlin
44. Dr. Zeynep Nettekoven, Europäische Akademie der Arbeit in der Universität Frankfurt am Main
45. Prof. Dr. Andrea Pelzeter, HWR Berlin
46. Prof. Dr. Sandra Rochnowski, Hochschule für Wirtschaft und Recht Berlin
47. Prof. Dr. (i.R.) Christoph Scherrer, Universität Kassel
48. Prof. Dr. Stefan Seuring, Universität Kassel
49. Prof. Dr. Christina Teipen, HWR Berlin
50. Prof. Dr. Markus Wissen, HWR Berlin
GREECE
51. Board Member Marica Frangakis, Nicos Poulantzas Institute
IRELAND
52. Co-Director Tom McDonnell, Nevin Economic Research Institute
53. Senior Research Officer Michael Taft, SIPTU Trade Union
ITALY
54. Full Professor Leonardo Becchetti, University of Rome Tor Vergata
55. Prof. Marco Bellucci, University of Florence
56. Full Professor Mario Biggeri, University of Florence
57. Associate professor Sabrina Bonomi, eCampus University
58. Full Professor Marcella Corsi, Sapienza University of Rome
59. Prof. PhD Pasquale De Muro, Roma Tre University
60. Full Professor Rosario Faraci, University of Catania
61. Prof. PhD Elisa Giuliani, University of Pisa
62. Prof. Emeritus Benedetto Gui, Istituto Universitario Sophia
63. Prof. Laura Pennacchi, Fondazione Basso
64. Prof. Mario Pianta, Scuola Normale Superiore
65. Full Professor Luciano Pilotti, University of Milan
66. Full Professor Francesco Rullani, Ca’ Foscari University of Venice
67. Prof. PhD Francesco Zirpoli, Ca’ Foscari University of Venice
NETHERLANDS
68. Prof. Dr. Rutger Claassen, Utrecht University
69. Prof. Marleen Janssen Groesbeek, Avans UAS, Tilburg
70. Prof. Dr. Karen Maas, Open University Heerlen/Impact Centre Erasmus
71. Director Paul Schenderling, Postgroei Nederland
72. Prof. Dr. Hans Schenk, Utrecht University
73. Chief Economist Hans Stegeman, Triodos Bank
74. Dr. Tania Treibich, Maastricht University
75. Prof. Irene van Staveren, Institute of Social Studies, EUR
76. Economic fellow Rens van Tilburg, Institute for Environmental Studies VU University
77. Dr. Jens van ‘t Klooster, University of Amsterdam
PORTUGAL
78. Prof. PhD Ricardo Barradas, Iscte – Instituto Universitário de Lisboa
79. Prof. Dr. Helena Lopes, Iscte – Instituto Universitário de Lisboa
SPAIN
80. Prof. Dr. Luis Buendía, University of León (Spain)
81. Prof. Dr. Beatriz Fernández Olit, Universidad de Alcalá
82. Professor Giorgos Kallis, ICTA/UAB
83. Member José Ángel Moreno, Economistas sin Fronteras
84. Prof. Dr. Orencio Vázquez Oteo, UNED
SWEDEN
85 Dr. Felix Schulz, Lund University; University of Leeds
SWITZERLAND
86 Prof. Dr. Nicolas Pons-Vignon, University of Applied Sciences and Arts of Southern Switzerland
87 Prof. em. Dr. Peter Ulrich, Universität St. Gallen
UNITED KINGDOM
88. Asst. Prof. Dr. Richard Bärnthaler, University of Leeds
89. Dr. Benjamin Braun, London School of Economics and Political Science
90. Prof. Ph.D Magnus Ryner, King’s College London