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European Commission cuts back Taxonomy Reporting, with impact on US-based multinationals

The flags of the European Union flutter in the winds in front of the Berlaymont, the EU Commission headquarter on August 31, 2023 in Brussels, Belgium.
Photo: Thierry Monasse/Getty Images
Michael R. Littenberg | Ropes & Gray profile image Marc Rotter | Ropes & Gray profile image +1

Michael R. Littenberg | Ropes & Gray, Marc Rotter | Ropes & Gray, Peter Witschi | Ropes & Gray

7 min read

As the US marked Independence Day, large companies – including many US-based multinationals – were given their own reason to celebrate.

On July 4, the European Commission adopted a Delegated Regulation (provisional version) scaling back EU Taxonomy reporting. The Delegated Regulation is discussed in this article. 

The adoption of the Delegated Regulation was expected. A draft regulation was published in February as part of the Commission’s first Omnibus package. Publication of that

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