EU closes deal to slash green rules in major win for von der Leyen’s deregulation drive – POLITICO
The new law, the first of many so-called omnibus simplification bills, will massively reduce the scope of corporate sustainability disclosure rules introduced in the last political term. The aim of the red tape cuts is to boost the competitiveness of European businesses and drive economic growth.
The deal concludes a year of intense negotiations between EU decision-makers, investors, businesses and civil society, who argued over how much to reduce reporting obligations for companies on the environmental impacts of their business and supply chains — all while the effects of climate change in Europe were getting worse.
“This is an important step towards our common goal to create a more favourable business environment to help our companies grow and innovate,” said Marie Bjerre, Danish minister for European affairs. Denmark, which holds the presidency of the Council of the EU until the end of the year, led the negotiations on behalf of EU governments.
“This agreement brings historic cost reduction,” said the EPP’s Jörgen Warborn, who led negotiations in the Parliament. “We have achieved something very good for businesses in Europe … I hope this omnibus has its final destination next week in Strasbourg where we will vote this in plenary.”
Marie Bjerre, Den|mark’s Minister for European affairs, who said the agreement was an important step for a more favourable business environment. | Philipp von Ditfurth/picture alliance via Getty Images
Proposed by the Commission last February, the omnibus is designed to address businesses’ concerns that the paperwork needed to comply with EU laws is costly and unfair. Many companies have been blaming Europe’s overzealous green lawmaking and the restrictions it places on doing business in the region for low economic growth and job losses, preventing them from competing with U.S. and Chinese rivals.
But Green and civil society groups — and some businesses too — argued this backtracking would put environmental and human health at risk.
