In the run-up to the weekend when Relay for Life was supposed to take place (16 and 17 May), we would also like to show our continued support for this initiative. We will not be able to walk together, but we can take a moment to think about Relay for Life and all the reasons why we have been walking over the years. To show your support, we invite you to take a photo of yourself during your next walk (while respecting social distancing/instructions from authorities) and send it to us at TLO@amchameu.eu. We will combine all the photos to share them in our communications and on social media as part of a campaign from the organisers of the Relay.
Support Relay for Life from home
Over the last few years, many AmCham EU staff and members have participated in Relay for Life, an initiative to raise funds for the fight against cancer. For 24 hours, participants take turns walking the track, as a symbol of the constant battle of patients and their families. This is a cause close to the hearts of many of us. Every year, we walk to honour those who have survived, those who are fighting and those who are no longer with us, including our dear colleague Andreas Galanakis.
While this year’s Relay for Life is cancelled due to the ongoing COVID-19 pandemic, the fight against cancer continues. Therefore we would like to invite you to support research and make a donation. All funds will go to the Fondation contre le cancer/Stichting tegen Kanker. Find out more about how your donation can make a real difference.
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The Draghi report highlights how economic growth has stagnated in the EU due to structural weaknesses that risk undermining the EU’s global competitiveness. To bolster the EU’s attractiveness and competitiveness, lawmakers should pursue a coherent pro-growth tax reform agenda. A pro-growth tax reform agenda in the EU27 can be evaluated through five principles: (a) economic efficiency, including low distortion of economic decisions and low administrative and compliance costs; (b) consideration and strong discipline across the entire lifecycle of tax policy reform: initial decision making process, legal design and implementation; (c) evidence-based accountability through clear objectives, rigorous impact assessment, meaningful consultation and ex post review; (d) strengthening the Single Market rather than adding cross-border frictions; and (e) neutrality and fair competitive conditions across sectors, countries and business models.
These principles are mutually reinforcing: growth is supported not only by sound and coherent statutory design, but by the full tax system including law, administration and taxpayer interaction. AmCham EU has prepared a framework for EU lawmakers to use while designing, implementing and evaluating tax policy based upon our members’ experiences operating in every EU Member State and almost every country around the world.
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Sustainable Finance Disclosure Regulation 2.0: getting the architecture right
The EU’s sustainable finance rules should help investors understand where their money is going and support Europe’s transition. The Commission’s proposal improves the current system, but some changes are still needed.
The new Transition category should focus on whether companies are cutting emissions, not on the sector they operate in. The 70% threshold should stay. The rules should also work with MiFID II and the EU Taxonomy.
Companies need 24 months to prepare. Firms that fall outside the new scope should stop reporting as soon as the rules enter into force.
Read the paper to learn how SFDR 2.0 can direct more capital towards Europe’s transition.
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