Feeling like you’re living in two worlds lately? 🌍✨
On one side, as Freddie Mercury would say (one of my all-time faves) – the show must go on! Next week, we’re hosting a session as part of the Voluntary Principles Initiative annual convening in London. We’ve been talking to security managers from mine sites worldwide. Their perspective? They are rolling out effective grievance mechanisms, they are engaging with communities, they are looking at how they can manage their risks to people. Are they worried about roll backs? No - this is simply about their companies' social license to operate, and helps their companies be resilient, competitive and sustainable.
And on the flip side… some conservative MEPs (ECR) at the European Parliament are pointing fingers at sustainability laws, claiming they're the root of all EU struggles. 😳 Their narrative? Ditch the directives to get back to strength and competitiveness. Meanwhile, S&D welcomes simplification but not deregulation, and Renew Europe put the finger on where we are politically: the EPP now has a choice. Collaborate with the centre or join forces with the far-right conservatives that are advocating for “a chainsaw rather than a letter opener.” 🪓✉️ (Tuesday’s debate can be watched here - go straight to 18:14 for the European Commission’s overview of its approach then you can listen in for MEP positions that follow.)
Top buzz words this week:
🕰️ Stop the Clock: The European Parliament will vote on April 1 at noon on delaying the CSRD and CSDDD timelines. (Reminder, this is the proposal which postpones (1) the application of CSRD reporting requirements for companies that are due to report in 2026 and 2027 (wave 2 and 3 companies) and (2) the transposition deadline and the first wave of application of the CSDDD by one year to 2028)
🏢 Corporate Capture: Reclaim Finance compared the Omnibus proposal with the positions of some large business groups (Medef/BDI/Confindustria, the French Banking Federation, Business Europe and the American Chamber of Commerce). Turns out the comparison was easily done, since quite a lot of copy pasting from those positions happened. See here and here
🇺🇸 US Senator Hagerty: His proposed Prevent Regulatory Overreach from Turning Essential Companies into Targets (PROTECT USA) Act of 2025 would prohibit certain U.S. entities from complying with foreign sustainability due diligence regulation - amongst other matters. See here and here
It’s a wild ride balancing these worlds, so make sure to take care of yourself this weekend,
Anna 💫
