Latest news with #sustainability
Forbes
an hour ago
- Business
- Forbes
What's Holding Back Sustainable Business? The Challenges That Matter Most
The race to a sustainable future is on In the next five years, an entire generation of 2030 sustainability goals will finally come due. ESG reports and shareholder letters alike are soon going to face their biggest reckoning yet: will all the lofty promises translate into real progress? Early signs suggest the answer will be sobering. While ambition has soared, actual outcomes have continued to lag stubbornly behind. The reality is not that business leaders lack the will, rather, it's that the pathways to sustainability are far murkier, slower, and more difficult than anyone knew, or perhaps wanted to admit. For many organizations, the past few years have revealed a brutal truth: good intentions alone are not enough. Across industries, leaders are confronting the growing reality that sustainable business challenges run deeper than public promises and ESG reports might suggest. Without the right goals, infrastructure, and incentives, sustainability efforts either stall or end up serving more as marketing than meaning. The subtle forces working against sustainability are often invisible at first: misaligned incentives, fragile infrastructure, and underpriced risk. It's time we look at them more clearly if we want to build companies that can genuinely claim to have moved the world forward. The Importance of Aligning Goals With Real-World Sustainability Execution At the heart of any real change is leadership that understands both the limits of today and the possibilities of tomorrow. Kenn Ricci, founder of Flexjet, is an executive who strives to embody both while also running a business in one of the more challenging industries to be sustainable in, aviation. As he explains it, Ricci's sustainability philosophy doesn't fall into the trap of setting goals that look good but collapse under operational scrutiny. Instead, he focuses on what could become possible with enough pressure and patience, and then works to build the conditions to achieve it, whether it is to further sustainability across his fleet of jets or simply managing the day-to-day operations at the back office. 'When you lead people, you can't just say, 'This is where we're going,'' Ricci explains. 'You have to build a path under their feet, step by step, that makes it believable and doable. Otherwise, it's just a dream. Worse yet, it might be just your dream, and never become theirs.' At Flexjet, Ricci has consistently pursued operational improvements that align with larger sustainability aims, but without forcing the business to lurch into goals it cannot yet support. He argues that trust, not slogans, is what sustains long-term change. 'Sustainability isn't a checkbox even if some still treat it as such,' Ricci continues. 'It's an ongoing negotiation between ambition and reality. The leaders who win are the ones who never let go of either side.' His pragmatic optimism stands in stark contrast to much of the corporate world, where sustainability targets are often designed by communications departments rather than operational leaders. And herein lies the first reason why we haven't seen as much progress on ESG goals as we would have wanted. For far too many companies, sustainability has not been a metric that they have actively led with themselves. Ricci puts it bluntly: 'Sustainability has to be a steering wheel, not a rearview mirror. If you're just reporting it, you're already too late. And the leaders have to be the ones with both hands on it, not just the sustainability or comms team.' He's also keenly aware that true leadership requires putting real capital behind sustainable change, not just political or reputational capital, but operational resources that can withstand market cycles. 'Anyone can make promises when the sun is shining,' Ricci says. 'The question is what you stick to when the headwinds come. That's where real commitment shows.' Why Sustainability Depends on Infrastructure: Lessons From Aviation and Energy If setting the right goals is the first battle, building the right infrastructure is the war. Kennedy Ricci, CEO of 4AIR and son of Kenn Ricci, has spent his career focusing precisely on this frontier. His company offers a certification program for aviation's environmental impact, not by promising zero emissions tomorrow, but by helping aviation stakeholders take verifiable, incremental steps today. 'A lot of people get paralyzed because they think the only good goal is net-zero tomorrow,' Kennedy Ricci explains. 'But if you can measure, track, and improve a little bit every day, that's how you actually get there.' 4AIR's approach doesn't pretend aviation can become clean overnight. Instead, it recognizes that building credibility today through offset programs, sustainable aviation fuels, and transparent reporting lays the groundwork for deeper decarbonization later. The company's rise is testament to the power of pragmatic ambition anchored by real-world execution. Kenn Ricci reflects on his son's growing success: 'Building an empire is one thing. Building a legacy that adapts to the future is something else entirely. I'm proud that Kennedy's taking on the harder challenge.' He continues, "We've always believed that real leadership isn't about announcing goals, it's about laying bricks, patiently, and getting others to walk the road with you. 4AIR is doing just that." Meanwhile, infrastructure challenges aren't limited to aviation. The broader energy ecosystem faces its own existential bottlenecks that a handful of companies are doing their best to break open for the rest of us. Deóis Ua Cearnaigh, CTO at Aeon Blue, a company specializing in energy transition technologies and sustainable fuel, emphasizes that sustainability isn't about simply adding more renewables into the grid. It's about fundamentally rethinking how the grid operates. 'It's wonderful that we have more wind and solar now,' says Cearnaigh. 'But you still need a spinning reserve for when the wind dies and the sun sets. If that reserve is fossil-powered, your emissions story isn't as clean as it looks.' Their bigger point is this: you can't just add renewables on top of a fragile or misaligned system and expect magic. Without reengineering grid storage, reserve capacity, and distribution models, the true sustainability gains remain elusive. Cearnaigh believes that while renewables will dominate the next twenty years, nuclear energy will inevitably rise as the long-term backbone for sustainable baseload power. 'The zeitgeist today is wind, solar, and geothermal,' he reflects. 'But it does also seem that nuclear is one inevitable destination as well.' Without grappling with these infrastructural realities, sustainability risks becoming a story we tell ourselves, not a future we actually live. This mindset mirrors the thinking of Brett Bouchy, CEO of Freedom Forever, a company deadset on revolutionizing residential solar. 'The solar revolution doesn't happen because people feel good about the environment,' Bouchy points out. 'It happens when saving money on your electricity bill is cheaper and easier than sticking to the grid.' Bouchy's laser focus on efficiency is another reminder that for sustainability to scale, it must compete not just morally, but economically. As Bouchy frames it, "We don't succeed by selling dreams. We succeed by selling better economics. And better economics drive real environmental change." He's blunt about the reality check the green economy still needs: "Nobody switches to solar because you guilt them into it. They switch because it's cheaper, easier, and works better. That's how you win hearts, wallets, and the future. And for that, you need the infrastructure to be in place, management to know what goals to drive towards, and an audience that is ready to trust what you are selling." Bouchy also sees a deeper, long-term opportunity that transcends energy bills: "Every home we upgrade is a client win, sure. But it's another node in a smarter, decentralized energy system. Sustainability isn't a utopian idea. It's the byproduct of millions of small, self-interested decisions that add up to a revolution." If only revolutions were easy, which is exactly why stories like the above are worthy of retelling. Companies that rise up to the challenge of sustainability cannot be taken for granted, simply because of how rare they still remain. That is particularly true for investments, which is the third missing pillar that is making 2030 feel further away than it should. Why Long-Term Investment Is the Missing Piece in Sustainability Strategy If setting the right goals is the first battle, and building the right infrastructure is the war, then making the right investments is the long campaign, often fought without fanfare, headlines, or even immediate returns. And it's here where sustainable business faces one of its most persistent barriers: the cruel mismatch between moral urgency and financial immediacy. Capital, by its nature, seeks returns. It rewards speed, liquidity, and demonstrable gains. But sustainability often demands patience, long arcs of investment, and a willingness to fund seeds that may only bear fruit decades from now. It asks us to invest in forests we may never personally walk through. Doing good, it turns out, is relatively easy. But doing good money, investments that compete at par with traditional, short-horizon opportunities, remains the real Everest to climb. This doesn't mean that the private sector is full of villains twirling their overgrown mustaches. It's simply important to recognize the system we've built and how it operates. Until the returns of sustainability become structurally competitive, whether through market shifts, regulatory frameworks, or pure innovation, capital will continue to flow where it always has: toward the short, the sure, the profitable and the now. The uncomfortable truth is that economics, not ethics, will be the final arbiter of the transition's speed, even if ethics gets to set the goal. And yet, there are signs of things shifting. Signs that smart leaders know: a world where customers demand sustainable products is fast approaching. A world where supply chains simply cannot function without green tech is not far behind. Companies who wait until the economics are easy will find that the customers, the talent, and the licenses to operate have already gone elsewhere. Which brings us to the handful of players quietly laying the groundwork. ENEOS, Japan's largest energy group, offers one instructive case. They are investing heavily in hydrogen transportation, synthetic fuels, battery recycling, and carbon capture, not because it makes perfect financial sense today, but because they know what survival will require tomorrow. 'There's no question the world needs cleaner energy,' an ENEOS representative explained in an interview. 'But if you exit fossil fuels too quickly, you leave markets in chaos, and ironically, you can make the transition slower, not faster.' The trick, as they frame it, is not to burn the bridges while crossing the river. Real transition demands continuity, not collapse. "You can't dismantle today's infrastructure before tomorrow's infrastructure is ready," added another ENEOS representative noted. 'The world is too interconnected for idealism alone. You need to build pathways people can actually walk.' This recognition, that reality, not rhetoric, is the substrate upon which change must be built, permeates the thinking of those who are keen to see sustainability truly take root today. Brett Bouchy, CEO of Freedom Forever, who is busy scaling residential solar across America, frames it in plain terms: 'You don't win by selling dreams. You win by selling better economics. If going solar isn't easier and cheaper than sticking with the grid, the revolution doesn't happen. Period.' It's a bracing, necessary reminder that narratives alone don't move markets. Incentives do. And this brings us full circle to the real challenge ahead: building an economy where sustainability isn't a premium add-on for the wealthy or the virtuous, it's the baseline expectation for everyone. In that future, "green" won't be a differentiator. Instead, it will simply be the cost of doing business. Those who invest today with that reality in mind, patient, practical, sometimes lonely, will be the ones best positioned when the forest finally blooms. And those who don't may find themselves, too late, standing outside the gates of a new economy that has no room left for yesterday's math.
Sky News
an hour ago
- Politics
- Sky News
Prince William has had a lot to say this week - but is anyone listening?
Prince William has had a lot to say this week, attending three events about the environment as part of London Climate Action Week and giving three speeches. But I wouldn't be surprised if you haven't really heard what he had to say. The eyes of the world have, understandably, been elsewhere. Conflict, not the climate crisis, has been the primary focus of world leaders and continues to be - a problem you could say for William and all those trying to whip up momentum ahead of COP30 in Brazil, with only four months to go until the UN's climate conference in November. It was William and his team who specifically convened a meeting at St James's Palace on Thursday with the Brazilian ministers in charge of the summit and indigenous leaders from other parts of the world. With Ed Miliband, the secretary of state for energy security and net zero, just a few seats away, William made a call to action, saying: "We've made bold commitments: to halt deforestation, restore ecosystems, and protect 30% of land, sea, and water by 2030. "But these goals will remain out of reach unless we move from promises to action - grounded in respect, equity, and shared responsibility. "Looking ahead to COP30 in Belem and beyond, we must act with greater ambition and deeper collaboration. This is a moment for courage." When I put it to a palace source that maybe it all feels a bit futile in the current climate, with attentions firmly elsewhere, I was told there is "no change in course" - the prince always has and will continue "to use his platform to spotlight the need to restore the planet". 1:16 In the past, we've been more used to his father being more vocal. The King's involvement in London Climate Week was more fleeting, albeit involving a handshake with a giant gorilla puppet, and a discussion with the Brazil delegation in which he hinted that he would love to attend the summit in November, saying: "It's fitting it all in." Attendance by either the King or the Prince of Wales hasn't been confirmed yet, although it's looking likely William will go. He told one person this week: "I'll be in the area", with his Earthshot Prize being held in Rio in the days running up to the climate conference. But in the coming months, we do now know that father and son will be meeting with one key player, who has certainly voiced very different views on the severity of the climate crisis. 0:56 This week, it was confirmed that Donald Trump's full state visit to the UK will go ahead later this year, likely in September. His potentially disruptive presence when it came to the climate debate was hinted at on Tuesday, in front of Prince William, during a speech by former New York mayor Mike Bloomberg. Mr Bloomberg, a global adviser to Earthshot Prize, said: "There's a good reason to be optimistic, lots of problems around the world, America has not been doing its share lately to make things better, I don't think. Nevertheless, I'm very optimistic about the future." The King and Prince William have worked in this environmental sphere long enough to weather the frustrations of other distractions, a lack of interest or momentum. I'll never forget in 2015 ahead of COP21, when Islamic State and Syria were dominating the news agenda, Prince Charles told me very firmly that of course there was a link between the civil war in Syria and climate change. He said there was "very good evidence indeed that one of the major reasons for this horror in Syria was a drought that lasted for about five or six years, which meant that huge numbers of people in the end had to leave the land". "It's only in the last few years that the Pentagon have actually started to pay attention to this," he added at the time. "I mean, it has a huge impact on what is happening." But as a family, they know how much their global profile and ability to get people in the room can help attract attention that others simply can't. It's easy to be sniffy about that convening power, but as one delegate at an Earthshot event put it, they have an ability to "bring people together not around politics but purpose". And in a currently noisy, fractured world, it feels like that is needed more than ever.
Associated Press
3 hours ago
- Business
- Associated Press
CoTec Holdings Corp. Announces Annual and Special Meeting Results
VANCOUVER, BC / ACCESS Newswire / June 27, 2025 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) (the 'Company') is pleased to announce that all resolutions were passed by requisite majority at its annual and special meeting of shareholders held earlier today in virtual format. The seven incumbent directors, Julian Treger, Raffaele (Lucio) Genovese, Tom Albanese, Margot Naudie, Sharon Fay, Erez Ichilov and Robert Harward were re-elected to the Board by shareholders. The shareholders also approved the re-appointment of PricewaterhouseCoopers LLP as auditors of the Company for the ensuing year and the Company's amended and restated omnibus equity incentive plan. About CoTec CoTec is a publicly traded investment issuer listed on the TSXV and the OTCQB and trades under the cymbol CTH and CTHCF respectively. CoTec is a forward-thinking resource extraction company committed to revolutionizing the global metals and minerals industry through innovative, environmentally sustainable technologies and strategic asset acquisitions. With a mission to drive the sector toward a low-carbon future, CoTec employes a dual approach: investing in disruptive mineral extraction technologies that enhance efficiency and sustainability while applying these technologies to undervalued mining assets to unlock their full potential. By focusing on recycling, waste mining, and scalable solutions, the Company accelerates the production of critical minerals, shortens development timelines, and reduces environmental impact. CoTec's strategic model delivers low capital requirements, rapid revenue generation, and high barriers to entry, positioning it as a leading mid-tier disruptor in the commodities sector. For more information, please visit For further information, please contact: Braam Jonker - (604) 992-5600 Forward-Looking Information Cautionary Statement Statements in this press release regarding the Company and its investments which are not historical facts are 'forward-looking statements' that involve risks and uncertainties, including statements relating to management's expectations with respect to its current and potential future investments, the value of such investments and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. For further details regarding risks and uncertainties facing the Company please refer to 'Risk Factors' in the Company's filing statement dated April 6, 2022, a copy of which may be found under the Company's SEDAR+ profile at Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. SOURCE: CoTec Holdings Corp. press release
Sustainability Times
3 hours ago
- Business
- Sustainability Times
'Cargo Shipping Just Changed Forever': Wind-Powered Vessel Hits 99.6% Usage, Slashes 20 Tons of CO2 Every Day
IN A NUTSHELL 🌍 The Canopée cargo ship uses advanced OceanWings sails to significantly reduce fuel consumption and carbon emissions. uses advanced to significantly reduce fuel consumption and carbon emissions. 🛳️ Canopée's sails contribute to an average daily fuel saving of 5.2 tons, highlighting the aerodynamic efficiency of the system. of the system. ⚡ The ship achieves a remarkable 99.6 percent system availability , proving the reliability of wind-assisted propulsion in commercial shipping. , proving the reliability of wind-assisted propulsion in commercial shipping. 🏆 Canopée's success has earned recognition from the French Académie de Marine, emphasizing its role in maritime innovation. In an era where sustainability is becoming increasingly crucial, the maritime industry is under significant pressure to innovate and reduce its carbon footprint. One groundbreaking solution has emerged from the collaboration of several forward-thinking companies. The Canopée cargo ship, a marvel of modern engineering, is leading the charge in demonstrating the viability of wind-assisted propulsion in commercial shipping. This vessel, designed to transport Ariane 6 rocket components from Europe to French Guiana, offers a glimpse into the future of eco-friendly shipping and the potential to revolutionize the industry. The Innovative Design of Canopée Canopée's design is nothing short of revolutionary. Equipped with four OceanWings sails, this cutting-edge vessel exemplifies the successful integration of hybrid electric and thermal power. These sails, created by the French startup OceanWings in partnership with VPLP Design, harness the power of the wind to significantly reduce fuel consumption. Remarkably, Canopée has completed two years of continuous operation, achieving an average daily fuel saving of 5.2 tons. This is equivalent to saving approximately 1,200 kilowatts of engine power daily. Such savings are not just theoretical; they are backed by robust data. The vessel's wingsails alone contribute approximately 1.3 tons of daily fuel savings per sail, translating into a reduction of over 20.8 tons of carbon dioxide emissions per day. This level of efficiency not only underscores the aerodynamic prowess of the OceanWings system but also highlights the potential for widespread adoption of similar technologies across the maritime industry. '100-Year Math Riddle Cracked': Penn State Student Solves Century-Old Puzzle That Could Supercharge Global Wind Energy Proven Success and Consistent Reliability Beyond fuel savings, Canopée's operational success is evident in its impressive reliability metrics. Over two years, the OceanWings have maintained a 99.6 percent system availability, a testament to the robustness and efficiency of the technology. The ship's operators, Alizés—a joint venture between Jifmar and Zéphyr & Borée—have ensured that the vessel remains a reliable component of ArianeGroup's rocket logistics. The continuous improvement of the OceanWings Software & AI platform promises even greater efficiency in the future. The vessel's consistent performance and the industry recognition it received—including the Henri Kummerman Prize from the French Académie de Marine—highlight the successful realization of wind-assisted propulsion as a practical and sustainable solution. The European CBAM : an attempt to regulate carbon imports Wind Propulsion: A Game-Changer for Shipping The significance of Canopée's achievements extends beyond its immediate operational metrics. On recent transatlantic voyages, the ship achieved fuel savings of 2.2 tons per day per wingsail, equivalent to about 510 kilowatts of engine power saved per sail. This impressive performance, coupled with a speed of 13.7 knots under sail power alone, underscores the transformative potential of wind propulsion technology. The collaboration between OceanWings, VPLP, Jifmar, Zéphyr & Borée, and ArianeGroup exemplifies the power of innovation in addressing environmental challenges. As these companies continue to refine their technologies, the maritime industry stands on the brink of a new era of sustainable shipping, driven by the practical application of wind energy. Three-tonne fuel savings per day: This revolutionary winged cargo ship sets a new maritime standard The Future of Maritime Innovation Canopée's journey is a testament to what can be achieved when expertise and commitment to sustainability converge. The vessel's success is not just a win for its creators but also a beacon of hope for the maritime industry's future. The seamless integration of wind propulsion into daily operations demonstrates the system's ease of use and its potential to become a standard in shipping. As the industry moves towards decarbonization, the role of wind propulsion becomes increasingly vital. Alizés, along with its partners, is leading the charge towards a more responsible maritime world. The question now is not whether wind propulsion will play a role in the future of shipping, but how quickly it can be adopted on a broader scale. Canopée has set a new standard in the maritime industry, proving that wind-assisted propulsion is not just a concept but a viable and effective solution. As we look to the future, the question remains: how will other sectors within the shipping industry embrace such transformative technologies to further reduce their environmental impact? Our author used artificial intelligence to enhance this article. Did you like it? 4.4/5 (28)
Forbes
5 hours ago
- Business
- Forbes
European Parliament Wants To Reduce Cost Of Sustainability Reporting Requirements
People walk by a European Union flag (Photo by) The European Parliament is debating legislation to reduce sustainability reporting requirements in the European Union. The original proposal of the European Commission included a drastic reduction of the scope of a pair of sustainability reporting directives. The member leading the drafting of the Parliament's has released his draft proposal, calling for even more cuts, alarming sustainability activists and emboldening business interests. That proposal was debated in the June 24 meeting of the Committee on Legal Affairs, known as JURI. As part of the European Green Deal, a trilogy of directives were passed by the EU to force businesses to address climate change and report greenhouse gas missions. However, the cost of these proposals on businesses and the broader impact on the EU economy became a theme during the 2024 elections. The shift to the right in EU politics embolden opponents. As a result, the Commission proposed a package of new directives to 'reduce the burden' on businesses. The Omnibus Simplification Package was officially adopted by the Commission in February. The proposal is being debated in the Council and the Parliament. In the Parliament, the debate is public and working through multiple committees, giving interest parties and MEPs the opportunity to voice their opinions. JURI, is the primary committee that will produce the legislation that will be sent to the full Parliament for a vote. MEP Jörgen Warborn, of the European People's Party, has been designated as the rapporteur to lead the drafting of the final legislation. Warborn's draft report was made public on June 6. The draft includes 82 proposed amendments. During the June 24 JURI meeting, the Committee addressed the proposed amendments. Warburn was given the opportunity to share his initial proposal and the shadow rapporteurs gave initial comments. Jörgen Warborn Warburn stated the EPP's goal in the proposal. 'We would like to go further in cutting costs, because we need to strengthen European competitiveness in order to create long-term prosperity for European citizens.' To justify the need for cuts, he stated "sustainability rests on three pillars: the environmental pillar, the social pillar, and the economic pillar… if one breaks, the stretcher collapses." He then outlined his 10 key priorities in the proposal: MEP Lara Wolters, Group of the Progressive Alliance of Socialists and Democrats Lara Wolters, of the Group of the Progressive Alliance of Socialists and Democrats (S&D), stated her group felt the 'Commission proposal was extremely rushed and deeply flawed.' She says that the proposal is not focused on removing the administrative burden, rather on removing accountability. She did not get into the specifics of the S&D proposal, but gave a vigorous counterargument to reductions. Countering the EPP's push to lower costs on businesses, she stated that she 'is not inspired by this… It is our job to weigh public versus private interests. But if costs are all the EPP cares about at the moment, then at least let us be honest that the costs are merely being displaced. Costs reduced for companies here are costs that the world will need to shoulder anyway. Climate denial comes at a cost. So does environmental degradation, exploitation, and inequality. So does feeding populism.' MEP Pascal Canfin, The Renew Group Pascal Canfin, of the Renew Europe Group, stated that he agrees with the EPP on the auditing of the CSRD report. He believes there is room to negotiation on that topic and reduce cost beyond the Commission proposal. He stated that he agrees in cost reduction, but that the EPP proposal does not deliver that. Focusing on capital market union, he said investors need data. The reduction in of the CSRD may save costs on paper, but will increase costs in the long term as investors spend more to gather the data. He will be offering amendments to address those concerns. Renew will also present amendments to address the single market approach and what he views as conflict with the restriction on civil liability causing market fragmentation. He also took issue with the application of the 3000 employee threshold to non-EU companies, claiming that would exempt nearly all non-EU companies from the scope. Interestingly, he stated the calculation of the employee count for non-EU companies is not based on total employees in the EU, rather total employees in a member state. MEP Kira Marie Peter-Hansen, Group of the Greens/ European Free Alliance (EFA) Kira Peter-Hansen, of the Group of the Greens/ European Free Alliance (EFA), stated that they agree with simplification and "reporting must be both meaningful and manageable.' However, she agrees with the S&D that the Omnibus and the EPP proposals go beyond simplification into deregulation. She pointed out that the raised thresholds not only eliminate 80% of the companies, but also some member states as they do not have any companies large enough to comply. She encouraged the use of the EFRAG data to simplify the data points in the European Sustainability Reporting Standards to simplify reporting requirements without 'weakening impact.' She accused the EPP of 'choosing populistic, symbolic changes over actual needed changes that would benefit from a revision." Further, she stated that 'removing climate transition plans completely is not just wrong, it is irresponsible.' She encouraged the adoption of a risk-based approach over the Commission proposal of mapping the value chain, claiming it would increase costs for companies. Finally, she objected to the removal of civil liability in the CSDDD. MEP Arash Saeidi, The Left Group Arash Saeidi, of The Left, opened by stated that 'there are men, women, and children whose rights are being breached and they're just being seen as cogs in the wheel of a production - modern slavery, textiles workers, forced labor to produce our electronics.. workers killed on sites. The CSDDD is designed to put an end to impunity and finally holding companies legally accountable from environmental damage and infringement of human rights.' He stated that The Left will present a proposal to reject all the proposed changes and stay with the existing text in the CSRD and CSDDD. Political parties and MEP had until June 27 to submit amendments. On July 15, the shadow rapporteurs will meet to discus the amendments and begin negotiations. To pass, the proposal needs majority support. Committee opinions are being drafted by Economic and Monetary Affairs, known as ECON, Environment, Climate and Food Safety, known as ENVI, Foreign Affairs, known as AFET, International Trade, known as INTA, and Employment and Social Affairs, known as EMPL. Those will be sent to JURI for consideration. I suspect Warborn's proposal is a negotiation tactic. By promoting a position that is more extreme than the original Commission proposal, the EPP has room to negotiate. However, the recent proposal by the Council was also to the right of the Commission. The final Parliament proposal may end up being the middle ground. JURI is expected to adopt the final language to reduce the Corporate Sustainability Reporting Directive and the Corporate Sustainability Due Diligence Directive on October 13. Following the vote of the Parliament, designated representatives from the Parliament, Council, and Commission will enter into "trilogue" negotiations. The proposals from each of the three bodies will vary. The trilogue will negotiate the differences to produce a final directive. That directive will be sent to the Council and Parliament for a final vote in December or January.
