After long and difficult negotiations, the conservative, social democratic and liberal groups in the European Parliament have reached a compromise that simplifies the requirements for sustainability reporting.
The compromise was voted through the Parliament's legal affairs committee on Monday and is expected to be considered in a final vote in Parliament within the coming weeks. The agreement is the first step in the so-called Omnibus 1 legislative package, which aims to reduce bureaucracy and ease reporting requirements for companies in the EU. The prospect of less reporting for companies is welcomed by Dansk Industri.
- The requirements for sustainability reporting have reached a scale and complexity that have gotten completely out of control and do not serve the purpose of supporting a sustainable transition. This is therefore an absolutely necessary step. At the same time, the EU must maintain its high ambitions for climate, green transition, energy efficiency and sustainability. It is also something that Danish companies are demanding, because they want to take responsibility for the future, says Lars Sandahl Sørensen, CEO of the Confederation of Danish Industry, in a press release.
Once Parliament has voted through the package, the crucial trialogue negotiations between Parliament, the Commission and the Council of Ministers await. Here, the Danish EU Presidency will have a central role in negotiating a final agreement.
- It is crunch time for the government. A final agreement on the Omnibus package is, for me, a success criterion for the Danish Presidency. It is about much more than the companies' bottom line. When business thrives, it ensures jobs and prosperity. A prosperity that, among other things, will finance our security and defense. The future of Europeans is at stake, says Lars Sandahl Sørensen.
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