German objections to EU’s toughest ESG rule

Scholz: I have to admit that there is no consensus that the agreements we have reached in Europe are adequate. — Bloomberg

MUNICH: The European Union’s (EU) most stringent environmental, social and governance (ESG) rule to date may be scuppered due to eleventh-hour German opposition to the plan.

The EU was on track to move forward with the Corporate Sustainability Due Diligence Directive after December (CSDDD), when lawmakers and representatives of member states ended months of negotiations with a provisional agreement.