EU's CSRD Revision Sparks Environmental Concerns
The European Commission's proposed revision to the EU's Corporate Sustainability Reporting Directive (CSRD) has sparked concern among environmental critics. They fear this move could signal a retreat from hard-won environmental standards and trigger a domino effect in other policy areas.
Under the proposed changes, the number of businesses required to submit full sustainability reports would fall by up to 75%, excluding thousands of mid-sized businesses from detailed disclosures. Emily O'Reilly, the EU Ombudsman, has accused the Commission of bypassing critical scrutiny in its haste to reduce these rules. The speed of the proposal's rollout has raised eyebrows within Commission circles, with one senior official describing the process as 'truncated and politically charged.'
The Commission insists the reform is necessary to ease the bureaucratic burden on businesses. However, critics see it as a rushed political concession to business lobbies. The Ombudsman's request questions whether the Commission considered conducting a full regulatory impact assessment (RIA) and if any internal dissent was raised before the deregulation plan was announced. The Commission chose to accelerate these proposals without the standard public consultation or impact assessment process. The EU's chief Ombudsman has issued a formal request to the European Commission, asking for an explanation regarding the hasty rollback of key environmental reporting obligations.
The proposed changes to the CSRD would sharply reduce the number of businesses disclosing climate-related and social risks. While the Commission argues these changes will ease the burden on businesses, environmental NGOs warn of potential consequences in other policy areas. The European Parliament's Legal Affairs Committee may call Commission officials to testify due to procedural concerns. trilogue discussions on the CSRD are still pending final agreement, with varying positions among EU institutions regarding the scope and requirements of the directive.
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