In April 2025, WWF released a briefing alleging changes proposed in the “Omnibus” package would exempt large oil and gas companies from reporting under the EU Taxonomy.

The briefing says the introduction of the high materiality threshold of 10% would “allow large oil and gas companies to no longer report their Taxonomy-aligned revenues”. The briefing says this would miss “precious information” on green performance, particularly for large oil and gas companies that do not reach a share of green (Taxonomy-eligible) revenues above 10%. The briefing recommends the materiality threshold is set at 2%; and says the materiality threshold should not apply to gas- fired power and nuclear power activities.

The briefing also argues the reduction in scope of the Taxonomy risks slowing the green transition for ‘midcap’ companies and says inconsistencies in the Commission’s proposals risk creating confusion for companies. The briefing emphasises the reduction in scope of the Taxonomy will lead to a lack of data disclosures, making it more difficult for financial institutions to factor this data into decision-making. The briefing also emphasises concerns regarding the “value chain cap” (which bans financial institutions from requesting ESG data from midcap and small companies beyond what is already in the voluntary questionnaire for non-listed SMEs), as the questionnaire was conceived for very small companies.

WWF highlights several other concerns with the “Omnibus” package and makes several recommendations on changes needed.