EU Eyes Energy Policy Overhaul to Cut Red Tape

European Union countries are pushing to incorporate energy policies into the bloc's strategy to cut red tape for struggling industries, as revealed in draft conclusions for an upcoming EU energy ministers' summit.

The European Commission has been actively working to alleviate bureaucratic burdens that put European businesses at a disadvantage compared to their counterparts in China and the United States. Initial proposals to reduce sustainability reporting requirements were released earlier this year, with further evaluations ongoing for other EU regulations.

Designating energy policies for simplification could significantly lower regulatory pressures on industries, maintaining core policy objectives. However, mixed reactions arise as some perceive it as competitive advancement, while others fear the undermining of sustainability efforts. The final conclusions remain under negotiation, with unanimous agreement necessary for approval.

(With inputs from agencies.)