Brussels will simplify business sustainability regulations, cybersecurity and the Common Agricultural Policy

• The European Commission presents its regulatory simplification plan that will also affect investment instruments
• As part of this plan, it will reduce the number of entities affected by the Carbon Border Adjustment Mechanism (CBAM)

Brussels presents its plan to advance regulatory simplification during this mandate in a bid to ease the administrative hurdles faced by companies and channel more investment to the EU bloc. The European Commission announced on Wednesday that it will present several packages this year to simplify regulation in several areas: business sustainability, investment instruments, digital regulations and the Common Agricultural Policy (CAP). The European Commission’s idea, already outlined in its Competitiveness Compass, is to reduce bureaucracy by 25% for all companies and 35% for small and medium-sized enterprises. An exercise that will help to reduce, at the same time, administrative costs to 37,500 million euros per year and that aims to eliminate business bureaucracy to promote the growth and investment of European companies. As part of this process, the European Commission will first present its first regulatory simplification exercise this February through an omnibus package, although five simplification packages are planned for this exercise. This month’s will focus on the reports that companies must submit on sustainable finance, due diligence and taxonomy.

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