Lawmakers in the European Parliament voted 544-18 to approve the adoption of new proposed rules requiring companies to substantiate and verify their environmental claims and labels, aimed at protecting consumers from greenwashing.
The new rules form Parliament’s negotiating position on the EU Commission’s proposed “Directive on Green Claims” released in March 2023. The Commission said that the new rules were meant to address a need for reliable and verifiable information for consumers, highlighted by its recent study that found that more than half of green claims by companies in the EU were vague or misleading, and 40% were completely unsubstantiated.
Source ESGtoday
Latest Posts in "European Union"
- CJEU Upholds Fixed VAT Default Interest, Rejects Proportionality Challenge in Lithuanian Case
- EU Reconsiders Reduced VAT Rates Amid Rising Fiscal Costs and Questionable Social Benefits
- EU Reaches Provisional Agreement to Strengthen Fight Against Cross-Border VAT Fraud
- EU Approves New VAT Data-Sharing Law to Strengthen Cross-Border Anti-Fraud Efforts
- EU Court: VAT Bad Debt Relief Only for Original Creditor, Not Assignee – Mokoryte Case
