While the EU’s Omnibus Simplification Proposals is under legislative scrutiny towards possible changes and simplification of the Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CSDDD), those milestone achievements of the EU Green Deal are facing significant opposition from the US.
The US, through Senator Bill Hagerty (R-TN), has introduced the PROTECT USA Act, which aims to shield US companies from CSDDD compliance. The Act signals a challenge to EU regulatory overreach and aims to protects US sovereignty; building on previous US opposition to the CSDDD, with concerns raised about its impact on US businesses.
For details of its key provisions, potential conflicts and implications and potential restrictions of the PROTECT USA Act, see our full blog post.