Many Danish companies can look forward to fewer requirements and major savings after the EU Commission, the European Parliament and the Council of Ministers have agreed on the so-called Omnibus 1 package. This is the assessment of the Danish Chamber of Commerce, which welcomes the agreement.
The agreement means more relaxed rules for sustainability reporting and due diligence and is expected to reduce the burden by up to 95 percent compared to the original proposal. With Tuesday's agreement, the number of Danish companies that must report on sustainability falls from around 2,200 to 375. According to the Ministry of Business and Industry, this corresponds to relief of at least six billion kroner for Danish business.
- The original rules may have had good intentions, but it was a veritable jungle for companies to navigate. Overall, it was far too extensive and burdensome an exercise for many companies. That has been done away with, and that is good. It is also good that the limit for who is covered is being raised, so that far fewer companies are covered. Overall, the business community has been listened to here, and common sense has prevailed. We can only welcome that from the Danish Chamber of Commerce, says Morten Langager, director of the Danish Chamber of Commerce.
But even if the burdens are eased, the Danish Chamber of Commerce points out that there is still a lot of work ahead. The organization's own calculations show that Danish business spends at least 90,000 full-time equivalents and 49 billion kroner annually. DKK to comply with national and European regulations.
Morten Langager emphasizes that it is therefore necessary for both Denmark and the EU to continue working to reduce administrative requirements and strengthen the competitiveness of companies.
- An analysis from the Danish Chamber of Commerce has previously determined that Danish business spends at least 90,000 full-time equivalents and at least 49 billion kroner annually on complying with regulations from both Denmark and the EU. There is still a regular tsunami of burdens, and it is important that Denmark and the EU do much more to reduce the burdens and thus the headaches that many Danish and European companies are affected by, he says.
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