European Commission Proposes Simplification of Climate and Sustainability Requirements

The European Commission (EC) has issued proposals that would simplify the European Union’s (EU’s) sustainability reporting requirements, including the Corporate Sustainability Reporting Directive, the EU Taxonomy Regulation, and other regulations. The proposals are aimed at “creating a more favourable business environment to help EU companies grow, innovate, and create quality jobs.” Specifically, the proposals are intended to “reduce complexity of EU requirements for all businesses, notably SMEs and small mid-caps, focus [the EU’s] regulatory framework on the largest companies which are likely to have a bigger impact on the climate and the environment, while still enabling companies to access sustainable finance for their clean transition.”

For more information, see the press release on the EC’s Web site.