BUSINESS NEWS EU urged to ‘strike balance’ on sustainability policies after EC proposals. Ian Taylor reports Leaders call on EC to clarify CSRD Ian Taylor


Global industry leaders met members of the European Parliament last week to lobby for clarity on sustainability policies after the European Commission proposed significant changes to requirements under the EU’s Corporate Sustainability Reporting Directive (CSRD) in February. The CSRD only came into


force this year, although large firms have had to prepare in advance. However, the EC announced “a new roadmap…to boost economic growth” in January aimed at simplifying sustainability regulations. This came partly in response


to the changed composition of the EU Parliament following European elections last June and partly as a response to the reversal


Proposed changes ‘a major step forward’ says EC


The EC issued the Omnibus package of proposed changes to the CSRD on February 26, hailing it “as a major step forward in creating a more favourable business environment”. It said the changes would


“reduce [the] complexity of EU requirements for all businesses, notably SMEs [and] focus our regulatory framework on the largest companies, which are likely to have a bigger impact on the climate and environment”. It is estimated the changes will save €6.3 billion a year in administrative costs if adopted. The main changes will:


Remove about 80% of companies from the scope of the CSRD.


 Ensure sustainability reporting travelweekly.co.uk


of environmental policies in the US under President Trump. The EC then issued a new


package (the Omnibus) in February, which would reduce the number of companies within the scope of the CSRD by 80% by raising the threshold for compliance from EU businesses with 250-plus employees to those with more than 1,000. Non-EU companies would be


within scope under the revised rules only if they generate annual turnover in the EU of €450 million, rather than €150 million. The EC also proposed to push


back the dates by which companies must comply. The changes have yet to be


agreed by the European Parliament and Council of member states, but the sudden changes and resulting uncertainty have alarmed industry


EU president Ursula von der Leyen


leaders, given that businesses had already prepared for the introduction of the legislation. Global Business Travel


Association (GBTA) chief executive Suzanne Neufang; World Travel & Tourism Council (WTTC) senior vice-president for advocacy and communications Virginia Messina; and Sally Davey, chief executive of travel and technology sustainability coalition Travalyst, met policymakers in Brussels last week and called on the EU to “strike the right balance between Europe’s decarbonisation and competitiveness agendas”. They urged the EU to align


sustainability frameworks and standards “with global industry efforts”, and to support and incentivise “the deployment of sustainable travel options”. In a statement, they noted:


European Parliament, Strasbourg


“While the travel and tourism industry welcomes the efforts made under the Omnibus package to simplify corporate sustainability reporting, they stress that any changes in this space should avoid creating uncertainty for businesses that have been preparing for the implementation of the original legislation.”


EU and industry must collaborate to develop international standards


requirements on large companies “do not burden smaller companies in their value chains”.  Postpone by two years (to 2028) the reporting requirements for companies in scope of the CSRD. Revise sustainability due diligence requirements to focus on the direct business partners of companies in scope, reduce the frequency of assessments, and limit the amount of information that may be requested. European president Ursula von


der Leyen has promised: “More simplification is on the way.”


The WTTC, GBTA and Travalyst called on the EU to “continue its dialogue with the private sector so that the new EU standards build on existing industry insight and progress, preventing a multiplication of approaches”. They noted: “Travel and tourism


are global by their very nature. It’s essential that standards and data can be used internationally.” Virginia Messina of the WTTC


said: “The EU plays a critical role in setting the direction for global travel and tourism. However, close collaboration with the private sector is critical to ensure policies are


effective, proportionate and aligned with global efforts.” GBTA chief executive


Virginia Messina


Suzanne Neufang urged the EU to “work hand in hand with the industry to develop common standards”, adding: “Policies that provide


certainty on capital deployment for rail, multimodality and sustainable aviation fuel are critical.” Sally Davey of Travalyst warned:


“Our work to decarbonise and grow sustainably must be aligned, otherwise we will go backwards.” Croatian MEP Nikolina Brnjac,


who hosted the meeting, said: “It’s our duty to find a balanced solution – not to deregulate, but to regulate better.”


27 MARCH 2025 47


PICTURE: Shutterstock/Alzay


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56