Climate change - Image by Satheesh Sankaran from Pixabay

EU Member States have agreed to significantly dilute the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD) in a pivotal move away from Europe’s corporate sustainability ambitions.

Europe has to create a well-functioning Savings and Investment Union to mobilise private investments. However, it will depend on the willingness of Member States to go the extra mile for necessary harmonisation steps in taxation, company law, insolvency procedures and supervision.