Citi, eBay Ride Corporate Wave Citing EU Climate Reporting Risks

Citigroup, eBay, Mondelez International, and dozens of other major corporations are warning investors about compliance costs, conflicting rules, and potential legal liabilities as they prepare for a European climate disclosure mandate alongside US requirements.

More than 60 corporate giants have voiced concerns about the EU’s Corporate Sustainability Reporting Directive with investors so far this year, according to a Bloomberg Law review of S&P 500 companies’ annual reports. The tally has grown every year since 2022, when Mondelez was the only S&P 500 member to flag the EU’s sustainability rules in its 10-K risk factors.

The first few ...