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Italy joins Germany in abstaining from EU vote on ESG liability rule (2024)
| Environmental, social, and corporate governance |
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| • What is ESG? • Enacted ESG legislation • Arguments for and against ESG • Opposition to ESG • Federal ESG rules • ESG legislation tracker • Economy and Society: Ballotpedia's weekly ESG newsletter |
We reported last week that Germany was set to abstain from a vote on a rule that would create civil liabilities for companies that have ESG violations in their supply chains. The vote was originally scheduled for February 9 but was postponed after Italy indicated it might abstain as well:
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Tensions within Germany’s ruling coalition are holding up a deal on the European Union’s toughest ESG rule to date, marking the latest disruption to the bloc’s ability to do business due to infighting in the government of its largest economy. … Italy signaled it would join Germany in abstaining from a vote, according to one of the people familiar with the process. That means a qualified majority without two of the bloc’s biggest members would be almost impossible. Other smaller EU states, including Finland and Sweden, were doubtful as to whether they’d approve the rules. The episode is an embarrassing one for Germany after a series of last-minute disagreements in Chancellor Olaf Scholz’s three-party coalition. The lack of unity has hampered the passage of EU laws spanning the phase-out of the combustion engine to financial aid for Ukraine.[1] |
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See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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