Environment and sustainability and Risk & Compliance / Luis Cabrera / Máximo Martín /
The European Commission presents a Competitiveness Compass, which will simplify the regulatory burden of sustainability reporting, due diligence and taxonomy
One of the targets of the Competitiveness Compass, which will guide the Commission’s work over the next five years, is to reduce the regulatory and administrative burden drastically. In this context, the Omnibus proposal, expected in February, will be designed to simplify the sustainability reporting, due diligence and taxonomy.
On January 29, 2025 the European Commission issued a communication, addressed to the European Parliament, the European Council, the Council, the European Economic and Social Committee and the Committee of the Regions, in which it has set out the three pillars designed to boost the EU’s competitiveness.
The tree pillars that the European Commission will focus on are moving forward on innovation, aligning the decarbonization goal with EU policies to increase competitiveness, as well as reducing excessive dependence on certain countries or suppliers, increasing resilience and security.
