There has long been a tension between so-called “reporting burden”, political expediency and providing the transparency that enables efficient markets and sustainable development.

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

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 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.