EU Mounts Major Retreat From ESG Agenda Amid Fierce Backlash (2)

The European Union is about to walk back significant chunks of planned ESG regulations, amid a barrage of complaints that such rules are becoming a dead weight hampering EU efforts to compete with the US and Asia.

The European Commission, the EU’s executive arm, has proposed that regulations covering everything from ESG reporting requirements to supply-chain management be watered down to protect business interests in the bloc, according to documents seen by Bloomberg. The final proposal is set to be made public on Wednesday.

The move follows intense pressure both from within and outside Europe to rein in environmental, social ...