The European Union’s plans to cut back sustainability reporting rules could expose European companies to more climate change-related lawsuits, 31 legal scholars said in a letter published on Friday.
The European Commission in February proposed loosening corporate sustainability rules for businesses in Europe, responding to criticism that EU red tape hinders competitiveness with rivals in China and the United States.
Among the changes, the EU would delete a requirement in its due diligence law for large companies to put into effect a “transition plan” to ensure they comply with the EU’s targets to cut greenhouse