EU: Spanish govt. says watering down sustainability reporting rules risks sending "dangerous signal" of backtracking on European values
“Spain springs to defence of Green Deal reporting rules”
The Spanish government has warned against watering down requirements across multiple EU sustainable reporting rules, as Brussels stands on the cusp of doing so.
Next Wednesday, the European Commission will propose slimming down reporting requirements in the bloc's corporate sustainability reporting, green finance and due diligence rules.
While expressing "sincere gratitude" for the Commission's simplification agenda, Madrid goes on to say that key sustainable finance laws should be largely left untouched, in a letter sent to the Commission on Tuesday and seen by Euractiv.
"Removing certain existing obligations would not necessarily improve our competitiveness and yet risks sending a dangerous signal of backtracking on our core European values," the letter reads.
While Spain is open to tweaks which ease compliance burden for businesses, it says that the most important thing is to "unlock capital flows forward the green transition."…
When it comes to the EU's green finance taxonomy rules, also a target for simplification, Spain argues against a reopening of the law but says the Commission could "streamline" the fundamental "Do No Significant Harm" principle, which could enable more investments to qualify as "sustainable"…