Stay informed on the latest sustainability developments with this weekly update. The European Commission plans to streamline corporate sustainability regulations, Chile launches Latin America’s first national chemical inventory, and Latin American leaders address sustainable growth challenges, while New Zealand emphasizes the importance of sustainability certifications for businesses.
European Community
In November 2024 the omnibus regulations has been announced by European Commission President Ursula von der Leyen, with the aim of responding to widespread concerns about the complexity of existing sustainability regulations. The omnibus regulation should simplify corporate sustainability rules by consolidating the Corporate Sustainability Reporting Directive (CSRD), Corporate Sustainability Due Diligence Directive (CSDDD), and EU Taxonomy into a single framework. The omnibus regulation is supposed to reduce reporting obligations by 25% for larger companies and 35% for smaller ones and it was urged by German and French leaders to ease current rules on businesses. It may include aligning data requirements with investor needs, revising compliance timelines, and introducing phased disclosure obligations based on company size and activities. Companies are encouraged to proactively prepare for these changes by ensuring compliance readiness, leveraging strong sustainability performance to improve access to capital, and enhancing resilience through better risk management. The EU Omnibus Regulation: Preparing for changes to European sustainability disclosure regulations
France
The French government has called for significant delays and amendments to key European sustainability reporting and due diligence regulations, including the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD). In a recent submission to the European Commission, France advocated for a “massive regulatory pause,” citing excessive regulatory complexity as a hindrance to economic growth, particularly for small and medium-sized enterprises. This push follows similar requests from Germany and coincides with the EU’s consideration of new omnibus legislation aimed at regulatory simplification. France seeks to increase the CSDDD’s applicability threshold to companies with over 5,000 employees and revenues exceeding €1.5 billion, effectively exempting around 80% of businesses from its obligations. Additionally, France has proposed reducing reporting requirements under the CSRD, particularly for smaller companies, and clarifying expectations regarding transition plans in relation to the Paris Agreement. The government emphasizes that simplifying regulations is essential for enhancing the competitiveness of European businesses. France Calls on EU to Delay, Water Down Sustainability Reporting and Due Diligence Requirements – ESG Today
Chile
Chile has officially released its first national chemical inventory, becoming the first country in Latin America to do so. This inventory, guided by the European Union’s REACH regulations, includes hazardous substances for industrial use that were notified under Decree No. 57/2021 until September 30, 2024. Any harmful substance not listed will be classified as a “new” substance, requiring registration before importation if it exceeds one ton per year. The registration window for non-industrial hazardous substances is set to open on February 9, 2025, and will close on August 30, 2025. The inventory aims to ensure that all substances entering Chile are properly assessed to minimize risks to human health and the environment. However, potential confusion may arise regarding non-listed substances and the registration process for hazardous mixtures, as specific guidelines are still pending from the Chilean government. Regular updates from official sources are recommended for compliance. Chile Released Its First National Chemical Inventory – Regulatory News – Chemicals – CIRS Group
Latin America
The Economic Forum held in Panama brought together experts and political leaders to explore strategies for accelerating sustainable growth in Latin America and the Caribbean, where economic growth is projected at just 2.5% for 2025. Discussions centered on critical issues such as climate change, social cohesion, infrastructure development, and the transformative potential of artificial intelligence. Sociologist Jeremy Rifkin called for a new development model that integrates technological innovation with climate action, while Rachel Adams highlighted AI’s capacity to improve healthcare access in remote areas. Manuel Otero emphasized AI’s role in advancing precision agriculture to boost productivity. The forum also addressed structural challenges like violence and high-interest rates, which hinder economic progress, particularly in smaller economies. Participants stressed the importance of private sector collaboration to drive political and social integration. The event underscored the urgency of adopting innovative approaches and collective action to overcome regional challenges and achieve sustainable development goals. Latinoamérica busca las herramientas para acelerar su crecimiento sostenible | Foro Económico CAF-WIP | EL PAÍS América
Advocates for the Amazon rainforest express deep concern over Donald Trump’s return to the White House, fearing a significant reduction in U.S. support for environmental protection efforts. During his previous administration, Trump had a dismissive stance on climate change, which included withdrawing from the Paris Agreement and undermining environmental regulations. Environmentalists are concerned that Trump’s policies will prioritize economic interests over environmental protection, which could lead to increased deforestation and threaten Indigenous communities. Moreover, they worry that without U.S. backing, initiatives like the Amazon Fund, which is crucial for combating climate change and deforestation, will suffer. The implications of these shifts could push the Amazon rainforest closer to an ecological tipping point, with dire consequences for global climate stability. Amazon’s advocates fear Trump’s return means little US help to protect rainforest | AP News
New Zealand
Sustainability certifications play a crucial role in verifying an organization’s commitment to sustainable practices. These third-party certifications provide independent assurance, helping businesses demonstrate their environmental and social responsibility to consumers and stakeholders. However, the wide range of available certifications can make it challenging to identify the most suitable ones. Key considerations when selecting a certification include its recognition within the industry, alignment with procurement policies, and the associated costs in terms of time and resources. By carefully evaluating these factors, organizations can choose certifications that effectively reflect their sustainability goals while enhancing their credibility and market reputation.
https://sustainable.org.nz/learn/tools-resources/sustainability-certifications