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illuminem summarizes for you the essential news of the day. Read the full piece on the Financial Times or enjoy below:
🗞️ Driving the news: EU countries are pushing to weaken new rules designed to prevent greenwashing amid rising political pressure
• The European Commission, led by Ursula von der Leyen, has backtracked on several climate agenda items ahead of EU elections
🔭 The context: The EU's Green Deal aims for net zero emissions by 2050
• Proposed in 2020, it has faced criticism for allegedly contributing to industrial decline and imposing bureaucratic burdens
• Recent changes include easing rules on packaging waste and environmental claims
🌍 Why it matters for the planet: Weakening greenwashing rules could undermine efforts to ensure truthful environmental claims, potentially allowing companies to mislead consumers about their eco-credentials
• Effective greenwashing regulations are crucial for achieving genuine climate goals and maintaining public trust in environmental initiatives
⏭️ What's next: EU member states have proposed a simplified verification process for environmental claims, allowing companies more leeway
• The final shape of the green claims law, which may still be contested by the European Parliament, will be decided after further negotiations and a meeting on June 17
💬 One quote: "A highly polluting company such as an airline or oil company could claim to be climate neutral and then only explain in small print that 99 per cent of emissions were offset" (Margaux Le Gallou of the Environmental Coalition on Standards)
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