The EU Commission is planning a radical reduction in bureaucracy: This is how companies benefit!

The EU Commission is planning a comprehensive reduction in bureaucracy in order to better meet economic requirements. According to information from Deutschlandfunk A draft strategy paper will be presented next week that outlines the intended measures in detail. The focus is on simplifying financial and due diligence regulations.

A central issue will be the European supply chain law, which holds large companies responsible for human rights violations in their supply chains. The Commission also wants to reduce bureaucracy and plans to do so as part of a comprehensive approach that also includes promoting investments in future-oriented technologies such as artificial intelligence and climate-friendly technologies.

Focus of the reforms

How daily news reports, there have long been complaints from companies about excessive bureaucracy, particularly at EU level. Against this background, the EU Commission has announced that it will dismantle regulations on a large scale. The planned changes primarily affect reporting on sustainable finance and due diligence.

The strategy paper, due to be formally presented next week, outlines the Commission's priorities for the next two years in a 20-page document. In addition to reducing bureaucracy, measures to reduce energy prices and the EU's goal of becoming climate neutral by 2050 are also highlighted. A new competitiveness check is also intended to assess the impact of EU projects on costs in international competition, especially compared to countries such as China and the USA.