News

Balance and proportion key to tackling foreign subsidies distorting the internal market

The European Commission’s proposed Regulation on foreign subsidies distorting the internal market and the objectives of resolving gaps in its current legal powers in relation to distortive foreign government subsidisation of companies is a step towards creating a level playing field in which companies from around the globe can compete on a fair basis within the European Single Market. Our new position paper highlights a number of areas where we believe the proposal needs to be further refined in order to best achieve the objectives of the Regulation.

Cross-industry statement on the need for a transition period for the implementation of the Batteries Regulation

On Thursday, 22 July, AmCham EU co-signed a statement on the need for a transition period in the implementation of the Batteries Regulation. The European Commission’s Proposal for a Batteries Regulation is an important step towards achieving the objective of improving the sustainability of batteries, whilst protecting the Single Market. The co-signers of this statement are committed to supporting the EU’s transition towards sustainable batteries and ensuring that the review of the batteries legislation is a success.

Support communities hit by devastating floods

Catastrophic flooding hit Belgium, Germany and other parts of Western Europe. As the death toll continues to rise and many are still missing, our thoughts go out to the families of the victims, the communities who have been devastated as well as the rescue teams.

AmCham EU will make a donation to the Belgian Red Cross. We encourage you to also support relief efforts by clicking here.

For more information, please reach out to Thibaut L’Ortye (TLO@amchameu.eu). 

Proportionate approach needed for Corporate Sustainability Reporting Directive

The Corporate Sustainability Reporting Directive (CSRD) represents a good opportunity to improve environmental, social and governance disclosures and has the potential to lead to greater relevance, comparability and reliability of environmental, social and governance (ESG) reporting across the EU. Its new reporting requirements would entail a significant change for preparers of disclosure, a concern outlined in a recently published AmCham EU paper. A proportionate approach balancing the growing demand for ESG data with the growing burden companies face in gathering, preparing, assuring and reporting such data, is therefore needed. 

Global taxation: the time is right for an international agreement

In recent weeks, momentum has been building up towards an international solution to the challenge of creating a tax system fit for the 21st century. The G7 first announced an agreement on a minimum global corporate tax. It was then closely followed by the G20 finance ministers endorsing the OECD Inclusive Framework’s statement for international tax reform. Most recently, the EU reiterated its commitment to fostering an international compromise by postponing its digital levy proposal. While these developments are all crucial steps towards a global deal, critical work remains to iron out the details as well as address significant issues of complexity.

The journey to net zero

Almost all of Verizon’s operational carbon emissions come from the electricity used to power its networks. The company’s support for renewable energy and the transition to a greener grid is a key enabler to achieve its goal of net zero emissions in all operations by 2035. Learn about the progress they're making on their net zero goal on Investing in Europe.

Learn more at The Green Way and join the conversation on Twitter with #EUGreenWay.

Financing the green transition

Over the next 10 years, J.P. Morgan has committed to $1 trillion in investments in green initiatives with the aim of contributing to financing projects that support climate action and help to facilitate the transition to a low-carbon economy. Find out more in our interview with Chuka Umunna, Head of EMEA Environmental, Social and Governance (ESG).

Learn more at The Green Way and join the conversation on Twitter with #EUGreenWay. 

Paving the path for Europe's digital decade

The European Commission's 2030 Digital Compass: the European Way for the Digital Decade Communication presents a vision, targets and avenues towards a successful digital transformation. It puts the EU’s digital ambitions for 2030 into concrete terms and proposes the development of a framework of digital principles and promoting the EU’s digital agenda internationally. To ensure that the objectives of the digital compass are met, AmCham EU provides recommendations on the importance of building and maintaining international partnerships; facilitating broad stakeholder participation; accelerating investment and innovation; and enhancing digital skills and inclusion. These recommendations will not only lead to the realisation of Europe’s ‘digital decade’, but also a positive, tangible effect on Europe’s society.

Net zero by 2040 – come wind or shine

As a company committed to addressing the climate crisis, Amazon is on a path to powering its operations with 100% renewable energy by 2025 – five years earlier than its original 2030 goal. This is part of The Climate Pledge, which Amazon co-founded with the objective of achieving net-zero carbon within its operations before 2040. To help achieve this goal, Amazon started to roll out the first of its utility-scale projects to deliver clean energy to grids across Europe in 2019.

Learn more at The Green Way and join the conversation on Twitter with #EUGreenWay.