Early CSRD reports show banks can deliver credible Transition Plans – Omnibus I negotiations are crucial

04 November 2025 - 09:49 h

Press Release

As negotiations on Omnibus I continue in the European Parliament, Finance Watch publishes research analysing the first CSRD reports from Europe’s 64 biggest banks, covering 75% of EU banking assets.

The results:

59% of the banks report a transition plan, but the content and formats vary widely.
Where plans exist, they are not always supported by strategies. Only a minority of banks have Paris-aligned plans with clear, credible pathways.
14% of banks do not report any GHG reduction targets, and where GHG targets exist without a fully developed transition plan, their credibility is limited.
Membership of voluntary alliances like GFANZ or the NZBA does not guarantee the existence of a transition plan.
Despite the CSRD not yet being transposed in eight countries, 91% of Europe’s biggest banks are already reporting.

The early CSRD reports show that banks are capable of reporting, but without clear rules, the quality and comparability of transition plans will remain insufficient to meet Paris-aligned objectives.

Vincent Vandeloise, Senior Research & Advocacy Officer

With the reporting standards negotiations reopened, the legislators have renewed the opportunity to ensure transition plans are transparent and usable.

Our benchmarking exercise shows that banks are fully capable of producing credible plans. Practices just require some harmonisation. Pressure from outside the EU, including the US and Qatar, to dilute obligations under the CSDDD should not undermine Europe’s ambitions. It is important that CSDDD transition plans are binding and that rules are strengthened to ensure credible, enforceable strategies, not just box-ticking exercises.

Vincent Vandeloise, Senior Research & Advocacy Officer

The Parliament is expected to vote again on the Omnibus I package before 13 November. A key moment to secure strong, Paris-aligned transition plans. Until then, the JURI position could evolve.

Full Position Paper (In English)