The EU on Wednesday proposed paring back its environmental rules to give businesses breathing room faced with US and Chinese competition—while still vowing to decarbonize Europe's economy.

The EU will stick to its world-leading climate goals, the bloc’s economic competitiveness tsar has vowed, even as it prepares to water down some of the green policies to placate the bloc’s ailing industry.

The EU on Wednesday unveiled a push to "simplify" its environmental rules to give businesses breathing room faced with competition from the United States and China -- while still vowing

European Commission President Ursula von der Leyen delivers a speech on the European Commission's plan to enable EU industry to shift to a low-carbon future while also boosting competitiveness, during the "European Industry Summit 2025, The Clean Industrial Deal" in Antwerp, Belgium February 26, 2025. REUTERS/Yves Herman

The European Commission, the executive arm of the European Union, has proposed allocating €100 billion (US$105 billion) to support clean manufacturing within the EU, streamline public procurement processes,

Officials are seeking to boost competitiveness and reduce the regulatory burden on businesses during what a European commissioner called a “perilous” time.

The European Commission plans to loosen its rules on corporate sustainability reporting and supply chain transparency, it said on Wednesday, in a bid to make Europe more competitive with the United States and China.

Following calls to reduce the regulatory burden imposed on businesses, the European Union is poised to reform a series of laws passed under the EU Green Deal