Friends of the Earth Europe’s Post

Fascinating to watch the political hubris around the implementation of the EU Corporate Sustainability Reporting Directive (CSRD). None other than newly minted French Prime Minister Michel Barnier has now entered the fray with his call for some kind of 'moratorium' around the effective dates of various CSRD requirements (below link). While this makes no sense from a procedural perspective (17 Member States have already missed the statutory deadline to transpose the CSRD into national law), it is another political indication (by no means the first) of the strong pushback against this existing EU law. EU institutions will now attempt to thread the needle and try to agree how to lighten the load for businesses while still delivering on the EU's green deal ambitions. Stay tuned! #csrd #sustainablefinance #eucompetitiveness #regulatorysimplification

The CSRD abolished? Not quite. In an interview with the French radio station France Inter, European Commission Executive Vice-President Stéphane Séjourné recently stated that there will be a “massive simplification shock” in the upcoming Omnibus proposal, which is set to be presented on February 26. Séjourné and his team later clarified his statement that the CSRD will not be abolished, and those suggesting so are overinterpreting his words. Séjourné indicated that they intend to maintain the CSRD's objectives and climate goals, but as part of the simplification process to reduce democratic burden, they will aim to eliminate certain reporting obligations. The Omnibus package, announced by Commission President Ursula von der Leyen in November, is expected to streamline several regulations, including the Corporate Sustainability Reporting Directive (CSRD), the Corporate Sustainability Due Diligence Directive (CSDDD), and the EU taxonomy. The announcement comes just a week after several major companies sent an open letter to European Commision urging leaders not to open up climate regulations for renegotiation. In the letter, the companies reaffirm their commitment to the EU’s sustainability due diligence and reporting rules, recognizing their potential to enhance long-term resilience and create value for European businesses, thus boosting competitive advantage. They emphasize that what companies need now is “consistency, clarity, and confidence” in applying these rules and encourage policymakers to prioritize the practical implementation that is essential for their success and growth. Irrespective of the final outcome of the Omnibus regulation, it's undeniable that a significant shift in sustainability compliance and reporting has already taken place. The businesses that understand and embrace this shift will be the ones that thrive in the future.

#France's response to the #EU directive to protect international #Competitiveness was extremely relevant at a time when the new positioning of the United States is reshaping the underlying international economic parameters.    #CS3D | This EU directive on Corporate Sustainability Due Diligence imposing heavy annual reporting obligations to corporates (#CS3D [2]) could have a massive impact, 𝗽𝗼𝘁𝗲𝗻𝘁𝗶𝗮𝗹𝗹𝘆 𝗰𝗼𝘀𝘁𝗶𝗻𝗴 𝟭𝟬% 𝗼𝗳 𝘁𝗵𝗲 𝗘𝗨'𝘀 𝗴𝗿𝗼𝘄𝘁𝗵 [3]; in a time where EU companies need to enhance their international competitiveness.   In an official memo published by POLITICO Europe [1], Bercy is therefore requesting an indefinite postponement of the transposition of this directive and is proposing modifications to lighten the reporting burdens... A suivre.    [1] Memo from French Authorities (source Politico) :https://lnkd.in/dBYVHdrq [2] EU CSD3 Directive https://lnkd.in/dwsUx7Yx [3] #AEFinfo -https://lnkd.in/d8b9C8Rp

In the latest Sustainability in Business blog, #TeamSPB report on the French Prime Minister Michel Barnier who in a recent interview with Le Journal du Dimanche, proposed adopting a “sort of moratorium” to delay the entry into force in France of specific texts, including the Corporate Sustainability Due Diligence Directive (CSRD). Beyond mere announcements, what is the likelihood of such postponement and what would be the risks for France? ➡️ https://ow.ly/wWBF50TUj7I #CSRC | #SustainableDevelopment | #EUSustainability

📢 **Concerns about the Implementation of the CSRD** 📊 **Corporate Law** European companies have expressed their concerns regarding the implementation of the CSRD directive on non-financial reporting, effective since January 2024 for large companies. These concerns were raised on Wednesday, May 15, during a conference organized by the Global Reporting Initiative (GRI) and MEP Pascal Durand (S&D, France). 🗣️ **Key Points from the Conference**: 🔍 **Clarification and Assistance**: - Companies are requesting clarification of the framework and assistance in complying with the new requirements. 📈 **Survey Results**: - Le Quang Tran Van, Director of Financial Affairs at the French Association of Private Enterprises (AFEP), presented the results of a recent survey: 60% of participants are still trying to understand the reporting requirements. - Mr. Tran Van emphasized the need for more time and simplification of the framework, adding that "large companies are concerned for the small and medium-sized enterprises (SMEs) in their value chain" and urging member states not to burden the requirements further. 📅 **Deadlines and Challenges**: - He noted that only six months remain for implementation, describing it as a "major challenge." - Transition plans are identified as a significant issue, particularly due to overlaps with other regulations such as the Corporate Sustainability Due Diligence Directive (CS3D) and the EU Emissions Trading System (ETS). 🛠️ **Support and Simplification**: - "Companies need support, not sanctions," insisted Mr. Tran Van, highlighting the need for a clear and harmonized legislative framework to facilitate compliance. 🔍 **Audit and Internal Controls**: - Marc Boissonnet, ESG Director at the TIC Council, indicated that companies will need to establish processes and internal controls "to assure auditors that the sampled information correctly reflects the system or board management." 📚 **Learning Process**: - Jessica Fries, Chair of the GRI Supervisory Board, concluded by saying, "It is a learning process for everyone. Companies will need to invest in the system, and thus, the level of understanding will evolve." 📢 #CSRD #NonFinancialReporting #EuropeanCompanies #PostalDirective #RiskManagement #Compliance #BusinessSupport #Environment #Transparency

🌍 🦁 Confrontations Europe published our analysis of Mario Draghi's report on European competitiveness. Together with Alexandre Denis, Elise Retailleau and Lucas GIGLI we discuss the ambitions and limits of the report in the light of the environmental transition. https://lnkd.in/eM3tRE-K Mario Draghi’s report urges Europe to restore its competitiveness to avoid jeopardizing prosperity, sustainability, and peace. The challenge? Navigating contradictions between growth, environmental limits, and political realities. 🔑 Key Points: 1️⃣ Administrative Complexity: the report highlights the need to simplify environmental regulations to boost productivity. But, loosening regulations may threaten Europe’s long-term sustainability goals, particularly as frameworks like the EU Taxonomy are gaining global traction. A more nuanced approach is needed that accounts for SMEs and fosters innovation without undermining environmental progress. 🏢📈 2️⃣ Investment Plan: The report proposes €750-800B annually, primarily targeting green transitions, clean tech, and infrastructure. While this is essential for decarbonization and economic leadership, Mario Draghi’s plan risks assuming a too-optimistic decoupling of economic growth from environmental degradation. 🌱💶 3️⃣ Political Challenges: the report's bold vision faces political hurdles, with member states divided on debt-sharing and investment priorities. At the same time, public support is crucial—citizen participation and bottom-up initiatives (like renewable energy projects) are key to making the green transition both democratic and effective. ⚖️🌍 🛑 Conclusion: Europe is caught in a “trilemma” between security, sustainability, and prosperity. Mario Draghi’s report pushes for ambitious reforms, but without deeper political engagement and a focus on democratic support, achieving these goals may prove difficult. If you wish to learn more about this, we published a book (in French) a few months ago on corporate decarbonation: https://lnkd.in/eERm4S3D #Competitiveness #Sustainability #EU #GreenTransition #Innovation #MarioDraghi #ClimateAction emlyon business school, Thomas Gauthier, Bertrand Valiorgue, Xavier Blot, Fanny Verrax Louise Kessler, Diana Cárdenas Monar

🚨Deposit Return Scheme Rollout Facing Delays Until October 2027🚨 In a recent policy statement, the Department of Environment, Food and Rural Affairs (Defra) has announced a delay in the implementation of the UK's Deposit Return Scheme (DRS). Originally set to launch in October 2025, the rollout has been postponed until October 2027. UK Government, DAERA in Northern Ireland, the Scottish Government and Welsh Government have all agreed to this joint position to ensure maximum alignment of DRSs across the UK. This news underscores the complexities and challenges involved in implementing DRS. The scheme is aimed at minimising the environmental impact of packaging whilst maximising the contribution that packaging reform can make to reaching net zero. At Envirovert, we understand the urgency of addressing environmental issues. While this delay is disappointing, it reinforces the importance of continued advocacy and action towards sustainability. Join us as we stay informed and engaged on this issue. Let's work together to advocate for positive change and push for a greener, more sustainable future.🌱💧 #DRS #Sustainability #EnvironmentalImpact #Environmentalcompliance #singleusedrinkscontainers

The continuing effort to align sustainability standards is encouraging and impressive. Better external reporting is critical. But let's not forget that change will also require new approaches to internal data and decisioning systems. This is our focus at Insights7: creating a centralized operating environment where people can think and act in a systemic way. The real test is tying financial, operational and sustainability data into management of business as usual and initiatives for growth and innovation.

Today, 🇪🇺 Heads of State are meeting to discuss the strategic agenda for next 5 years. It is now crucial to align climate and competitiveness efforts to ensure a long-term qualitative economy for EU industries, while providing jobs and improved quality of life to EU citizens. More than 500 organisations have joined forces to urge heads of states to confirm the Green Deal as EU's growth engine. Read our call, co-signed by Bertrand Piccard, Akuo's Eric Scotto, MEP Pascal Canfin, and Mayor of Lisbon Carlos Moedas and SolarPower Europe's Walburga Hemetsberger. 🇫🇷 https://lnkd.in/dF-zcmKx 🇮🇹 https://lnkd.in/d_pVFdha 🇪🇸 https://lnkd.in/djvHHCpX

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