Reducing, simplifying & streamlining reporting requirements under the EU Framework on Sustainable Finance
Eurogas views on reducing, simplifying and streamlining reporting requirements under the EU Framework on Sustainable Finance.
The European Framework on Sustainable Finance is essential for meeting Europe’s climate goals under the Green Deal. Integrating ESG criteria into corporate strategies allows companies to showcase their commitment to the green transition, drawing critical investments toward renewable and low-carbon technologies. Although significant progress has been made in the last legislative cycle towards establishing the necessary regulatory framework for sustainable finance, the various pieces of legislation have become increasingly complex and bureaucratic. As noted in the Draghi report, this complexity could result in substantial ‘compliance costs’ and could decrease companies’ competitiveness.
The upcoming legislative cycle is positioned between implementing regulation by 2030 and preparing the way for 2040. This is a crucial opportunity to reflect on potential improvements to existing EU legislation. This work should be grounded in three guiding principles: reducing, simplifying and streamlining.
In light of this, Eurogas would like to put forward the attached preliminary recommendations. We encourage the European Commission to prioritise these actions as an initial step in the forthcoming ‘Omnibus legislation’, as announced by the EC President during the recent informal meeting of Heads of States or Government in Budapest.
