"Amid tariff disputes, the war in Ukraine and environmental problems, Europe is looking for a new direction for its economic strategy. A key question is what role environmentally-friendly production, agriculture and the protection of natural resources should play in the future. Through its 2019 Green Deal, the EU has been working towards making its industries more efficient and climate-neutral by 2050. But the plan is facing increasing criticism and pressure."
"Two central instruments of the Green Deal are the EU Supply Chain Act and companies' obligations to report on their own social and environmental impacts. The aim being to ensure comparability and make responsibilities visible. The conservative EPP group is looking for partners in the European parliament. Far-right parties, including those of Viktor Orban (Hungary) and Marine le Pen (France)"
Europe is reassessing its economic strategy amid tariff disputes, the war in Ukraine and environmental challenges. The 2019 Green Deal aims to make industries more efficient and climate-neutral by 2050. The plan faces growing criticism and political pressure, notably from the conservative EPP group in the European Parliament seeking majorities with far-right parties. Several resolutions are being watered down and implementation of certain measures is being postponed or rolled back. Two central instruments are the EU Supply Chain Act and mandatory corporate reporting on social and environmental impacts. Reporting requirements will be narrowed to very large corporations, exempting many small and medium-sized firms. Critics warn that reduced reporting will decrease transparency for the public and investors. The European Central Bank had warned in advance about discontinuing these reports.
Read at www.dw.com
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