Officials are seeking to boost competitiveness and reduce the regulatory burden on businesses during what a European commissioner called a “perilous” time.

The European Commission plans to loosen its rules on corporate sustainability reporting and supply chain transparency, it said on Wednesday, in a bid to make Europe more competitive with the United States and China.

Following calls to reduce the regulatory burden imposed on businesses, the European Union is poised to reform a series of laws passed under the EU Green Deal

The European Commission proposed on Wednesday to make 100 billion euros ($104.97 billion) available to support EU-made clean manufacturing along with measures to lower power bills. The EU Clean Industrial Deal aims to provide support for energy-hungry industries that face "high energy costs,

The European Commission, the executive arm of the European Union, has proposed allocating €100 billion (US$105 billion) to support clean manufacturing within the EU, streamline public procurement processes,