Jon McGowan

1 week ago | forbes.com | Jon McGowan

The future of sustainability reporting in the European Union is in peril as legislators debate sweeping changes to the Corporate Sustainability Reporting Directive and the Corporate Sustainability Due Diligence Directives. The Commission proposed reforms in the Omnibus Simplification Package. Those proposals are now being debated in the Parliament and Council. As the legislative process unfolds in the Parliament, members are submitting proposed amendments.

1 week ago | forbes.com | Jon McGowan

In April 2024, the European Court of Human Rights issued a ground breaking ruling establishing protection from the effects of climate change as a human right under European law. The opinion, directed at Switzerland, was quickly praised by climate activists, but met with immediate resistance that threatened the stability of the underlying treaty. Now, the issue of immigration and border security has escalated the conflict, with national leaders threatening to renegotiation or exit the Convention.

1 week ago | forbes.com | Jon McGowan

In April, a group of climate change organizations filed a complaint with the European Ombudsman asserting that the European Commission failed to follow the proper process in drafting legislation to reduce sustainability reporting requirements. To the excitement of sustainability activists, on May 21, the Ombudsman announced she was opening an official investigation.

2 weeks ago | forbes.com | Jon McGowan

At the May 23 meeting of the Council of Europe’s COREPER, leadership circulated a guidance document on the future of sustainability reporting in the EU. As negotiations continue on the Omnibus Simplification Package occur mostly behind closed doors in the Council, the document gave a preview of possible compromises relating to changes to the Corporate Sustainability Reporting Directive and the Corporate Sustainability Due Diligence Directive.

2 weeks ago | forbes.com | Jon McGowan

According to a leaked draft, the European Commission is considering a new proposal to delay the implementation of specific requirements found in the European Sustainability Reporting Standards. The delay comes as the European Parliament debates overall reductions to the Corporate Sustainability Reporting Directive. The proposal expands existing delays to the CSRD to include those already subject to wave one reporting, with additional exemptions for companies with fewer than 750 employees.