Description
Antoine Boitez, SKEMA Publika moderator and web editor for SKEMA Business School, welcomes Diane de Saint-Affrique, Professor of Law, and Dhafer Saïdane, Professor and Director of the International Observatory on Sustainable Finance at SKEMA Business School, to discuss the ecological transition and the competitiveness of businesses in Europe.
Key points of the interview
European regulations :
The new ESG (Environmental, Social and Governance) standards aim to make European companies more competitive, but they are perceived as complex and costly. The CS3D directive, which is due to come into force in 2026, imposes obligations on companies to be vigilant throughout their value chain.
Impact on businesses :
Companies are faced with high compliance costs, which can harm their international competitiveness. SMEs and SMIs are particularly affected, as they have to comply with requirements originally intended for large companies.
Debates on regulation:
Some feel that Europe is over-regulating, creating a heavy bureaucracy. There is a debate on the need to revise directives to make them more realistic and applicable. The idea of a European extra-financial rating agency has been put forward to help standardise sustainability indicators. The need to simplify regulations and involve stakeholders more closely in the legislative process is also stressed.
Future perspectives:
The speakers called for a more balanced approach, taking account of global economic and geopolitical realities. They stressed the importance of moving away from a Eurocentric perspective.
