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Europe’s vision of a towering
ESG framework that would become a gold standard for other jurisdictions across the globe has just come crashing down to earth.
Against a backdrop of trade warnings from the US and sluggish competitiveness at home, the European Union has opted to dramatically scale back a rulebook intended to ensure companies adhere to environmental, social and governance standards. Instead, more than 80% of companies originally in scope of ESG reporting rules will no longer need to comply, while requirements to mitigate climate change…
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