GERMANY Trends and Developments Contributed by: Ivana Mikešić and Caroline Schümann-Cohen, R & P Legal
Measure for Measure There may be agreement on one thing: modern markets – national, international, global – do not work without differentiated rules. The right set of rules in the right place, and in a carefully calibrat - ed measure, will enhance efficient business, not curb it. To find the right measure is a constant task, requiring a meticulous fact-finding work ethos, constant discussion, a clear eye and an open mind – and a bit of loving care.
And, surprisingly, amidst hectic activity aiming at de-bureaucratisation in some places around the world, the European Commission rises and shines: the much-defamed Green Deal, initiated by the Commission in 2019, is under earnest scrutiny. In a so-called Omnibus pro - cedure, Brussels has set out to slim down its three pieces of legislation originally designed to push through sustainability goals for businesses to comply with – mainly climate protection and social fairness. The Taxonomy Directive, the Corporate Sustain - ability Reporting Directive and the Corporate Sustainability Due Diligence Directive are bound to be cut down, with the idea of saving 25% of expenditure for the targeted companies. It seems that pundits issuing warnings about the feasibil - ity for small and medium-sized companies have been heard for once. And, who knows, maybe pictures going viral online, showing a funny chap with an oversized cap and a chainsaw, made an impression, too.
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