Document

CSRD, CS3D and CBAM proposals
Thursday 15 May 2025

Share on

The regulatory proposals presented by the European Commission aim to simplify information and due diligence burdens for enterprises in the field of sustainabilityintroducing more proportionality and gradualness of rules. This approach, which is also inspired by the indications of the Draghi Report and is the result of discussions with stakeholders (including Confindustria), is positive and constitutes a first step towards a change of course on sustainability issues and a greater attention to aspects that risk limiting the competitiveness of companies.

The simplification action initiated is certainly useful, but especially for the due diligence framework, it must be pursued further.

They remain, in addition, some criticalityin particular remain the complexity of the 'Do not significant harm' (DNSH) principlerequirement for access to incentives and financial facilities financed from European resources, and lacks a coordination with financial regulation (which also imposes ESG obligations on banks with regard to small companies). Without a revision of these rules, regulatory simplification risks remaining on paper and displacing transition finance for companies.

Positive is the launch of the Call for Evidence on SFDRbut a broader intervention is also needed on the banking regulations. Finally, the changes to the CBAM Regulation must be strengthened, as they do not address structural criticalities such as the absence of export compensation.

Join the largest business community in Italy.

Highlighted topics

Environment and Ecological Transition

International

Europe

Digital transition

Energy

Fisco