Germany and the European economic area have been rapidly developing in the fields of renewable energy, climate-friendly transport, more efficient buildings, and regenerative land use for years. The European Union's (EU) Clean Industrial Deal and the accompanying regulatory requirements now solidify the framework for our journey towards climate neutrality.
Supply Chain Due Diligence Act, CSRD (Corporate Sustainability Reporting Directive), CSDDD (Corporate Sustainability Due Diligence Directive), EU Taxonomy – thousands of companies have already embarked on the path of integrating sustainability into their business practices and addressing the new quality of non-financial reporting that arises from it. They have begun to create the data foundations necessary to establish the required processes. Certainly not an easy undertaking: such a holistic view of business models, including global supply chains, requires expertise, time, and not least financial resources.
The European economic area needs investment, innovation, and economic growth – but within the limits of planetary boundaries and in this tension field, a regulatory framework that can do justice to both. The recently published Draghi Plan and the EU Competitiveness Compass outline what makes the world's largest economic area special, which strengths need to be expanded, but also which challenges we must face. Accordingly, the European Commission (EC) has reviewed its regulatory drafts for more sustainability. The result: the Omnibus Package and the Clean Industrial Deal.
While the Omnibus Package seeks to reduce administrative burdens, the Clean Industrial Deal drives the modernization of the industry forward.
