The EU Commission recognizes a need for action: Relief for companies in sight!

The EU Commission recognizes a need for action: Relief for companies in sight!

The presented draft on the Omnibus Act of the EU Commission was seen by the Industrial Association (IV) as the "first positive step". IV general secretary Christoph Neumayer found that the Commission recognized the growing challenges of bureaucracy and regulations for companies. Nevertheless, the proposed changes are not profound enough to promote competitiveness and growth in business. These statements were confirmed by the IV in a current statement.

A central change in the draft is the consolidation of the test obligations, which in future only be applied directly to business partners and subsidiaries (level 1). This means relief for many companies, especially for medium -sized companies, since suppliers and subcontractors only have to be checked in cases of doubt. In addition, the review period for duties of care is extended annually to every five years. According to Neumayer, these changes are significant progress that industry has long demanded. Another positive signal is the cancellation of excessive penalty of at least five percent of net sales for regular violations, which can be seen as a step in the right direction.

new guidelines for sustainability

In addition, progress in sustainability reporting and taxonomy have also been found. In the future, the area of ​​application will include companies with over 1,000 employees or annual sales of over 450 million euros. These adjustments could support companies to better adapt to the new regulatory requirements. In this context, Neumayer supports the demand that despite a possible postponement in implementation, the further necessary improvements must not be lost sight of in order to strengthen Europe's competitiveness. The insights that the EU Commission has won in these critical areas are according to IV.at which everyone involved should keep an eye on.