EU’s Weaker ESG Plans Anger Both Companies and Environmentalists

European Commission proposals to simplify and dramatically reduce the number of companies covered by environmental, social, and governance reporting requirements that started to kick in this year are drawing fire from both environmental groups and US business interests.

The commission’s Feb. 26 omnibus proposal to modify the EU’s Corporate Sustainability Reporting Directive set to be debated by the European Parliament this spring would limit mandatory reporting to companies with more than 1,000 employees. That would reduce by 80% the overall number of businesses that fall under the mandate to make comprehensive ESG disclosures based on 12 sets of reporting standards ...