The European Commission’s proposal for a Corporate Sustainability Reporting Directive (CSRD) published in April 2021 and currently being discussed by the Parliament and the Council, seeks to take companies’ sustainability reporting to the next level.
Germany has suffered a major reform backlog over the past decade. Although there have been some attempts to improve the situation, the country has fallen behind in terms of competitiveness.
Internationally, wealth tax is becoming obsolete. Over the past three decades, numerous countries that once levied a wealth tax have abolished it (e.g. Austria, Denmark, Italy, the Netherlands and Sweden).
The EU is planning new sustainability reporting requirements. However, family businesses are keen to invest their capital in mitigating climate change rather than spending it on unnecessary bureaucracy. The Foundation for Family Businesses is lobbying for this in Brussels.