-
Policymakers take on energy shock, rising debt at IMF-World Bank meetings
-
Trump's 'energy ceasefire' sparks confusion as Russia strikes Ukraine
-
Raphael Glucksmann elected centre-left French presidential candidate
-
Dupont double helps Toulouse avoid Bayonne slip-up in Top 14
-
'Dizzy' Lazio join Inter at top of Serie A as Roma, Juve and Milan held
-
Marseille snap losing skid with win at Troyes
-
Jaguars edge Eagles as Packers beat Bears
-
Lula stages mass rally ahead of Brazil's presidential run-off
-
Rays chase first MLB crown as Guardians try to snap drought
-
Poland holds suspect in alleged assassination plot against PM Tusk
-
Hurricane Simon churns off Mexican coast after shift in course
-
Russia hits Ukraine power plants despite Trump energy ceasefire claim
-
'Dizzy' Lazio join Inter at top of Serie A as Roma and AC Milan held
-
Isco's Betis rise back above Real Madrid to third
-
Man City must make 'own noise' amid financial scandal, says Maresca
-
Haaland vows troubled Man City will 'stick together' after beating Liverpool
-
Jaguars down Eagles with wild field goal finish in London
-
Abhishek, Arshdeep guide India to T20 win over West Indies
-
Sadaqat, Imran help Pakistan thump Sri Lanka to seal T20 series
-
'Other Mommy' scares up N. American box office win
-
Man City shrug off uncertain future to beat 10-man Liverpool
-
Zelensky surprised, Moscow mum as Trump announces energy ceasefire
-
Conservation groups alarmed at marine mammals' deaths in Spain
-
Ready Player 1: Paris to host 2027 edition of EVO combat video games event
-
Tens of thousands urge climate action at Brussels demo
-
Bill Gates warns cyberattacks most imminent AI threat
-
Norway's Hagenes wins historic Paris-Tours classic
-
Lazio join Inter at top of Serie A as Roma held at Como
-
Kipruto claims Chicago Marathon as Feysa defends women's title
-
Trump says Russia and Ukraine agree to 'energy ceasefire'
-
Forest boss Glasner loses on return to Palace, Hull hold Everton
-
Man City branded 'cheats' in hostile Liverpool reception after guilty verdict
-
'Sorry boys': Hamilton takes blame for botched tyre call
-
Smith breaks fielding record as Australia take control of 1st Test
-
Resurgent Verstappen wins Singapore Grand Prix for first time
-
Smith breaks fielding record as Australia take first innings lead
-
Verstappen wins Singapore Grand Prix for first time
-
Saints win south coast derby after Eckert's suspended 'Spygate' ban
-
Djibouti boat wreck leaves 139 migrants dead, 84 missing: UN
-
Zheng beats Andreeva to become first home player to win China Open
-
Drone hits Russia's Yandex in third reported attack
-
Young pretender Seixas threatens to rule cycling after sensational year
-
Shelton dumped out in Shanghai but Zverev ploughs on
-
Serie A stalemate as Roma held by Como
-
Top seed Zverev digs deep to reach Shanghai last 16
-
Prince Harry, Meghan to carry out first joint engagement since UK return: reports
-
Pope to be operated on for lump on lung
-
Last Ceuta migrant camp removed ahead of Spanish king's visit
-
India's 'cockroach' leaders vow to keep up election protests
-
Ukraine to stop refinery strikes when Russia curbs energy attacks: Zelensky
EU vows to slash red tape but stick to climate goals
The EU on Wednesday proposed paring back its environmental rules to give businesses breathing room faced with US and Chinese competition -- while still vowing to decarbonise Europe's economy.
The European Union's focus has pivoted to competitivity due to concerns about sluggish economic growth, a sharp move away from EU chief Ursula von der Leyen's first term that focused on tackling climate change.
The issue has taken on acute urgency with US President Donald Trump pushing an America First strategy that risks a trade war with the EU.
"Our climate and social goals do not change," von der Leyen said as she promised a sustained push to cut "red tape" during a speech to industry leaders in the Belgian port city of Antwerp.
"We are staying the course towards our decarbonisation goals," she added, responding to criticism from climate campaigners and EU lawmakers who accuse Brussels of ditching environmental objectives to satisfy big business.
The European Commission reiterated its intent to make the bloc's economy carbon-neutral by 2050 and promised to stick with targets set so far, including a 90 percent cut to greenhouse gas emissions by 2040.
To that end Von der Leyen said the EU would seek to mobilise 100 billion euros ($105 billion) in public and private funds to boost the clean tech sector as part of a medley of measures dubbed the "Clean Industrial Deal".
The package also hopes to help energy-intensive sectors since Europe's energy prices are significantly higher than in the United States.
First on the red tape chopping block, meanwhile, are a set of rules on environmental and human rights supply chain standards -- adopted with fanfare barely months ago but since attacked as too burdensome for businesses.
Business Europe, an EU lobby group, hailed the changes as a "positive step".
"By reducing unnecessary reporting and regulatory burdens, the (changes) will allow companies to contribute more effectively to the EU's sustainability objectives while also preserving the EU economy's competitiveness," said the group's director general Markus Beyrer.
- No 'chainsaw' massacre of rules -
Two major texts are in the EU's firing line: the Corporate Sustainability Reporting Directive (CSRD), which requires large firms to give investors and other "stakeholders" information on their climate impacts and emissions, and steps taken to limit them.
The other is the Corporate Sustainability Due Diligence Directive (CSDDD), which demands that large companies fix the "adverse human rights and environmental impacts" of their supply chains worldwide.
The commission, the EU's executive arm, proposed to postpone the implementation of the rules in a bid to help companies better prepare.
Companies required to comply with the CSRD as of 2026 and 2027 will now have enough 2028 to do so, the commission said.
And the rules will apply only to 10,000 larger companies rather than the initial 50,000, effectively sparing 80 percent of the firms originally targeted, an EU official said.
The proposals will need approval from EU states and the European Parliament.
EU industry chief Stephane Sejourne said the bloc would reform itself "without a chainsaw" -- a nod to America's Elon Musk or Argentina's Javier Milei, who have made the saw a symbol of reforming zeal.
But climate groups slammed the proposals.
"The only real urgency in the deal seems to be weakening the reporting rules, not ensuring companies contribute to a fair, competitive and climate-proof economy," said Climate Action Network (CAN) Europe director Chiara Martinelli.
- 'Contradictory' day -
The changes to reporting obligations will likely be hotly debated in the EU parliament, with centrists, left-wing and green lawmakers opposed to weakening environmental rules.
"Today is a contradictory day for European climate action. With the Clean Industrial Deal, Europe confirms its commitment to its decarbonisation agenda and reaffirms its climate ambitions for 2040, while the (simplification) package weakens certain foundations of the Green Deal," EU centrist lawmaker Pascal Canfin said.
The Green Deal, the EU's ambitious climate plan setting the bloc on a path to become carbon-neutral by 2050, dominated von der Leyen's first term.
In an "Action Plan for Affordable Energy", the EU executive outlined how it would cut energy costs including telling states to cut taxes on electricity bills to help consumers and firms.
Business Europe, however, urged the commission to act faster.
"It is unlikely that the measures proposed today will be enough to lower energy costs in the short term," Beyrer said.
J.Bergmann--BTB