The European Commission’s proposed ‘Omnibus’ package sets out an array of proposed amendments to simplify corporate sustainability requirements and reduce paperwork. In this week’s NLJ, Iris Karaman, senior associate, and Kate Chan, associate, at Pillsbury Law, look at the ‘Omnibus’ content and assess its practical implications for business.
Will it, as intended, reduce the regulatory burden on businesses? Or will it ‘introduce fresh legal uncertainties and diverging national implementations’? Karaman and Chan discuss.
The authors write: ‘Some Member States may be reluctant to weaken national due diligence or reporting standards, especially where domestic policymakers have positioned themselves as global leaders in corporate sustainability regulation. This could lead to regulatory fragmentation, with some jurisdictions maintaining higher compliance requirements than others.’RELATED ARTICLES
