https://hotair.com/subscribe?tpcc=60sale&promo_code=FIGHThttps://hotair.com/subscribe?tpcc=60sale&promo_code=FIGHTTalk about a story with a double dose of goodness!
First and foremost, the European Parliament voted to dramatically scale back its ridiculous Environmental and Social Governance rules for corporations, which is a big win for sanity.
And, as a cherry on top, that vote came after the United States kicked our European Allies around, showing them who is boss when it comes to economic matters.
Who doesn’t like seeing a righteous beatdown of self-important moralistic nanny-states who eat too much cheese and wurst? With the Europeans making a ridiculous stink about Trump’s interdiction of cartel drug trafficking boats in the Caribbean (about which they can do nothing of significance), it’s nice to see that the United States can force the jerks to retreat on regulatory burdens that are harming the world economy.
The European Parliament has voted to dramatically wind back the bloc’s ESG rules following intense US pressure.
The development means that >90% of companies originally in scope of ESG reporting requirements will no longer need to comply. https://t.co/bCHlubkOje
— Javier Blas (@JavierBlas) November 13, 2025
The EU Parliament isn’t quite as awful as the United Nations, but it is seriously in the running for worst international organization. And ESG rules and regulations are serious drags on economic growth, since they force corporations to adhere to ridiculous woke ideology that causes us so much grief.
The European Parliament has voted to dramatically wind back the bloc’s ESG rules following intense pressure from US business associations and state attorneys general.
The development means that more than 90% of companies originally in scope of environmental, social and governance reporting requirements will no longer need to comply. Other planks of the rulebook that emerged as a sticking point for the US have been dropped entirely. After Thursdays vote, the legislation now heads for approval by the European Union’s member states.
The EU responded to concerns raised by America’s fossil-fuel industry and the American Chamber of Commerce, said Pascal Canfin, a senior lawmaker for the centrist Renew Party. “They won,” he said.
As a long-time bastion of ESG, Europe’s decision to slash regulations once viewed as standard-setting marks a stunning retreat. In the US, ESG has been vilified by the Trump administration as “woke” and anti-American. In Europe, however, concerns have centered mostly on the costs associated with complying rather than on ideological arguments.
“A stunning retreat.” Who would have guessed that an organization in which France is a major player would retreat?
Not me!
The changes agreed on by EU lawmakers mean that 92% of companies that would have been subject to the Corporate Sustainability Reporting Directive will no longer be in scope, according to Julia Otten, a senior policy officer at advocacy NGO Frank Bold. Lawmakers also voted to drop a requirement that companies produce climate transition plans under the Corporate Sustainability Due Diligence Directive. A proposal to introduce EU-wide civil liability is also off the table.
Lawmakers didn’t address the issue of extraterritoriality, whereby countries outside the EU still need to comply with its ESG rules if they target the bloc’s markets. But with other parts of the legislation effectively wiped out, the expectation among EU lawmakers is that US concerns have now largely been put to rest.
Valdis Dombrovskis, Europe’s economy and productivity commissioner, said in an interview with Bloomberg Radio last week that the EU was listening to such concerns. However, Teresa Ribera, executive vice president of the European Commission, has warned against excessive deregulation.
The European Commission is worried about “excessive deregulation.” That’s a laugh. This is Europe we are talking about, where economic “growth” is a dirty word. I’m pretty sure Teresa doesn’t have to worry that Europe will suddenly become a vital economic center of growth again. At least until the European Union is disbanded.
The EU has been targeting American corporations that conduct business in Europe, seeking to establish regulatory authority over them in all matters they choose to engage in. ESG rules are all about replacing shareholder value with “stakeholder” value, which in practice means pushing DEI, climate alarmism, and all sorts of woke ideas into corporate culture.
This is a significant win, even though it will likely go unnoticed by most people, as it has more to do with corporate culture than with how businesses build and sell products. Expect less focus on pleasing activist groups and more on the core competencies these corporations should be focused on.
Good!
Join Hot Air VIP and use promo code FIGHT to get 60% off your membership.
