Compliance vs. Competitiveness: EU ESG Regulatory Outlook, Q4 2024

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ESG Reporting

Compliance vs. Competitiveness: EU ESG Regulatory Outlook, Q4 2024

19 December 2024 / Report

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While the European Union’s ESG-related regulations are a benchmark for global sustainability standards, concerns are rising about their potential impact on business competitiveness. This article presents the most recent regulatory developments in sustainability due diligence and disclosure and explains the calls for regulatory easing in the context of the Future of European Competitiveness report.

Key Insights

The Future of European Competitiveness describes the EU’s sustainability reporting and due diligence framework as a regulatory burden on companies, eliciting calls for regulatory easing. Nevertheless, companies must continue to prepare for the long-term transition to net-zero emissions by 2050 and remain committed to transparency and disclosure.

The Omnibus Simplification Package proposed by the EU for 2025 seeks to provide a comprehensive yet simplified framework for EU-level ESG compliance that may be especially helpful to small and medium-sized enterprises.
Regardless of any planned simplifications, a wait-and-see strategy might not be optimal. Companies should continue with their EU ESG compliance programs.

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