Agreement reached: Simplify rules and reduce costs for businesses

The European Parliament and EU Member States have in the early morning reached an agreement that gives European companies more time to grow their businesses, rather than being overwhelmed by paperwork and bureaucracy. “Today, we have delivered on the ambitious timeline set out in the stop-the-clock decision earlier this year. But more importantly, we are delivering on simplification,” said Jörgen Warborn MEP, the Parliament’s lead negotiator of the so-called Sustainability Omnibus.

“This agreement brings historic cost reductions for European businesses - unmatched by any previous legislation in this area. To put this into context: the Commission estimated that the Omnibus proposal would reduce costs by about €4.5 billion annually. The agreement reached today will take this even further,” points out Warborn.

At a time when boosting innovation and strengthening Europe’s global competitiveness is more important than ever, the EPP Group has led work to cut unnecessary red tape, allowing businesses to focus on growth, innovation, and sustainability. This agreed-upon simplification package provides clear, predictable reporting rules for companies operating across borders and helps prevent fragmentation of national regulations.

Media Invitation

MEP Jörgen Warborn and Danish Industry Minister Morten Bødskov will brief the media today (9 December) at 10.30 on the deal on updated sustainability reporting and due diligence rules (European Parliament, Brussels, Anna Politkovskaya Room). More information is available at this link.