The European Union is at a crossroads. For over a decade, Brussels took a lead globally as the most ambitious regulator of corporate responsibility and environmental accountability. Its sustainability agenda included, but went well beyond, cutting greenhouse gas emissions or enhancing disclosure. Instead, this climate and energy governance agenda aimed to redefine capitalism globally. The Corporate Sustainability Reporting Directive, supply chain due diligence legislation, and ESG norms were expected to establish much-needed transparency, regulate markets, and synchronize private finance with public climate objectives. Today, however, this ambition has 

BOI minister holds meeting with honorary CG of Lithuania

quietly but radically shifted.

There has been a shift in priority in the recent regulatory amendments. Sustainability reporting duties apply to only those firms that have over 1,000 employees, in addition to their average annual revenue of over €450 million. This will exempt almost 90 per cent of firms in Europe from ESG reporting. More stringent conditions apply to due diligence, where firms are required to adhere to human rights and environmental duties only if they have more than 5,000 employees and an average annual turnover of over €1.5 billion. Now, climate transition plans are mere recommendations, and clauses pertaining to responsibility have been watered down, with financial sanctions capped.

Unity Foods announces leadership transition with continued support from Wilmar International

Proponents and supporters of the proposed changes have termed them pragmatic in their approach. They cite that over-regulation had been........

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