GOP Lawmakers Sound Alarm On EU’s New “Debilitating” Green Policy On US Firms

Tyler Durden 2024.09.28 2 min read

A group led by more than 60 US House and Senate Republicans urged Treasury Secretary Janet Yellen to postpone the implementation of the European Union’s Corporate Sustainability Due Diligence Directive (“CSDDD”). The new EU requirement would force companies to better track environmental impacts across supply chains, which the group claims would “hinder business growth and raise consumer costs.”

“Now, the EU is attempting to impose its debilitating regulatory agenda on American companies through its Corporate Sustainability Due Diligence Directive (also known as “CSDDD” or “CS3D”),” the group of US lawmakers wrote in a letter to Yellen, adding CSDDD is “neither practical nor realistic — nor does it genuinely constitute ‘due diligence,’ which is generally defined as review and analysis prior to actions being taken.”

The lawmakers continued, “American companies will be required to comply with [Corporate Sustainability Due Diligence Directive] even though the US has not ratified many of the international conventions underlying the directive.”

“We are deeply concerned that the Administration is surrendering its regulatory responsibilities to European officials, allowing them to dictate draconian social and climate policies to American companies,” they cautioned.

The climate policy went into effect at the end of July. Even Yellen, a climate alarmist who wants to spend taxpayer funds into oblivion to address an alleged climate crisis, expressed concerns to Congress over CSDD’s “negative unintended consequences” for US companies.

The letter from lawmakers was first reported by Politico early Friday.

What’s particularly alarming across the West is the climate cult, through progressive leadership, elected and unelected, that has pushed ‘green’ policies that have only acted as de-growth mechanisms, especially in the US, which have curbed US electricity generation, while no restrictions in China produce an abundance of cheap power.

There are no low energy prosperous countries, hence energy generation is a highly correlated indicator of progress.