Report
Finance Watch alongside 90+ organisations urges EU leaders to refrain from gutting EU’s hard-won sustainability framework, an essential brick that is no less than a pre-condition to wiring EU finance to a sustainable economy
In a joint letter to the European Commission, Finance Watch joins voices with over 90 civil society organizations to resist recent proposals suggesting deregulation of the sustainable finance framework under the disguise of simplifying sustainability reporting:
- Alongside due diligence requirements, a framework ensuring standardized, comparable, and reliable sustainability disclosures is vital for aligning corporate practices with market and societal demands while facilitating access to sustainable finance,
- The CSRD as it is supports alignment with global standards and helps prevent market fragmentation and greenwashing by promoting transparency and comparability,
- Such deregulation measures risk undermining the EU’s Green Deal objectives and the economic transformation necessary to transition toward sustainable and competitive business models,
- Despite its limits, the CSRD as a framework enhances legal certainty for businesses and ensures proportionality and flexibility in reporting: even worse, arbitrary reductions in reporting obligations would increase legal uncertainty and administrative burdens for companies already adapting to the standards.
