EC wants to merge sustainability directives

European companies often complain about the growing regulatory burden. The President of the European Commission, Ursula von der Leyen, wants to do something about this and she announced at a summit in Budapest earlier this month that she wants to merge some sustainability laws. This will be done through an omnibus law, a comprehensive law. She named three candidates for merging: the sustainability reporting obligation (CSRD), the chain of custody obligation (CSDDD) and the European Taxonomy, a system to determine what constitutes green investments and business activities. However, green politicians also fear a major political movement in the European Parliament that wants to deregulate. The process also creates uncertainty for companies, says Arthur ten Wolde, director of the European trade association for sustainable businesses Ecopreneur. Companies want predictability. The possibility of adjustments leads precisely to unpredictability.

Source: FD, November 26, 2024

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