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The Omnibus Package: What Companies and ESG Managers Need to Know
In response to growing concerns about the complexity of sustainability regulations and their potential to hinder European businesses, the European Commission has introduced the Omnibus Simplification Package. This proposal aims to streamline corporate sustainability reporting while maintaining the EU’s ambitious environmental and social goals. The Omnibus package is a critical turning point in the EU’s […]
The EU’s Omnibus Simplification Package
The EU’s Omnibus Simplification Package: A Step Forward or a Step Backward for Sustainability? The European Union plans to officially unveil the Omnibus Simplification Package on February 26, 2025, sparking widespread debate over its potential impact on corporate sustainability reporting and due diligence. This legislative overhaul is part of the EU’s broader effort to simplify […]
EU Council Endorses Revised Legislation on CSDDD
A Landmark Decision In a landmark decision, the European Council greenlit a scaled-back version of the long-debated Corporate Sustainability Due Diligence Directive (CSDDD) on Friday March 15. This move marks a significant step towards ensuring that businesses operating within the EU uphold fundamental ethical standards in their practices. While the law represents a compromise between […]
EU introduces the world’s first Carbon Border Tax. How global producers will be affected
By Nikos Avlonas, President of CSE The European Commission has recently announced plans for a new carbon border adjustment mechanism (CBAM), or well know as Carbon Border Tax which would levy charges on non-EU products in relation to their embedded carbon footprint. The mechanism will be phased in gradually from 2026 and will initially […]
EU claims global leadership in Non-Financial Reporting with the new NFRD
Sustainability data are becoming essential for effective corporate management and opportunities in the fast-changing world. In 2018, the EU introduced the Non-Financial Reporting Directive (NFRD), requiring large entities to include a non-financial statement as part of their annual reporting obligations. Now, the European Commission is ready to adopt a new package of sustainable finance measures […]
Sustainability should be high on the agenda at G7 USA summit
Just a few months into navigating COVID-19-related constraints, leaders of the G7 will meet in the USA, most likely in September, as governments move from ‘rescue’ to ‘recovery’ mode. Recently, leading voices from politics and businesses[1] in the US strongly suggested that recovery measures should be guided by sustainability principles, promoting a ‘green’ recovery. Indeed, […]
Most Common Misconceptions of Corporations towards Sustainability
Last years have verified that within business cycles has come to realization the importance of Sustainability in order for corporations to operate regularly, enhance their credibility and good reputation as well as to reduce any possible risks. Following the adoption of the right legislative frameworks and the European Commission’s legislation and commitments, the foundations for […]
How can Sustainability Non-compliance affect Canadian Companies in EU?
EU companies face tough penalties for not publishing Sustainability Reports or publicly disclosing Corporate Responsibility data. The EU Directive on Non-financial and Diversity Information (Directive 2014/95/EU) can greatly affect Canadian corporations operating in any of the European Union Member States. The European Commission (EC) objective is to raise to a similarly high level across all […]