Commission adopts quick fix for companies already conducting corporate sustainability reporting
The Commission has adopted targeted quick fix amendments to the first set of European Sustainability Reporting Standards (ESRS). This will reduce burden and increase certainty for companies required to start reporting for the financial year 2024 (commonly referred to as Wave One companies).
Under the current ESRS, companies reporting for the financial year 2024 can omit information regarding the anticipated financial effects of specific sustainability-related risks. The quick fix amendment, effective from the financial year 2025, will allow them to omit the same information for the financial years 2025 and 2026. This means Wave One companies will not need to report additional information compared to the financial year 2024. Furthermore, for the financial years 2025 and 2026, Wave One companies with over 750 employees will benefit from most of the same phase-in provisions that currently apply to companies with up to 750 employees. The modifications are summarized in this document.
This quick fix was necessary as Wave One companies were not covered by the Stop-the-clock Directive, which delayed sustainability reporting requirements for companies reporting from the financial years 2025 and 2026 (known as Wave Two and Wave Three companies). This Directive was part of the Omnibus I package adopted by the Commission at the end of February 2025.
Meanwhile, the Commission is working on a broader revision of the European Sustainability Reporting Standards (ESRS), aiming to substantially reduce the number of data requirements, clarify unclear provisions, and improve consistency with other legislation. This review is expected to be completed by the financial year 2027.
(For more information: Olof Gill – Tel.: +32 2 296 59 66; Ana Apse-Paese – Tel.: +32 2 298 73 48; Saul Goulding – Tel.: +32 2 296 47 35)
Joint press release: EU and Ukraine to boost battlefield-driven solutions with BraveTech EU
The European Commission, in collaboration with Ukraine, is launching the BraveTech EU initiative, which focuses on accelerating defense innovation through closer cooperation. By leveraging battlefield-tested innovations from Ukraine, BraveTech EU will enhance the defense capabilities of both the EU and Ukraine and foster integration with Ukraines defense industry.
This announcement coincides with the Ukraine Recovery Conference in Rome. The initiative connects the Ministry of Digital Transformation BRAVE 1 defense tech platform with EU programs like the European Defence Fund (EDF) and the EU Defence Innovation Scheme (EUDIS). The goal is to stimulate innovation by supporting joint actions, hackathons, rapid testing, and direct collaboration between European and Ukrainian companies, particularly startups and SMEs.
BraveTech EU aligns with the objectives of the White Paper for European Defence – Readiness 2030, and the new EU-Ukraine Task Force on Defence Industrial Cooperation. It aims to harmonize EU and Ukrainian defense ecosystems while leveraging the innovative potential of closer EU-Ukraine collaboration, focusing on defense industries and new tech ventures.
Andrius Kubilius, Commissioner for Defence and Space, remarked: BraveTech EU is a new strategic step for developing cooperation between the EU and Ukraines defense industry. The EU and its Member States have an industrial capacity that can assist Ukraine in developing new defense systems and enhancing European resilience. Conversely, our defense industry stands to gain significantly from the innovative and dynamic Ukrainian defense tech community, its industry, and ecosystem. We will deepen our integration, which is crucial for both sides – for Ukraine and the EU.
More information can be found in our press release.
(For more information: Thomas Regnier – Tel.: +32 2 299 10 99; Marine Strauss - Tel.: +32 2 298 91 03)
EU steps up support for Ukraines culture and heritage
The EU and several Member States have launched the first Team Europe initiative for Cultural Heritage in Ukraine, aimed at protecting cultural artifacts and enhancing the skills of heritage professionals. Additionally, the Commission has allocated €2 million to its 2025 Creative Europe Special Call for Ukraine, bringing total EU cultural aid since the war began to over €50 million.
Commissioner for Intergenerational Fairness, Youth, Culture and Sport, Glenn Micallef, stated during the Ukraine Recovery Conference in Rome: Nations are defined not merely by borders or land, but by their values, people, stories, and culture. As Ive often said, to destroy a nation, you must attack its culture. Our support for Ukraines cultural and creative sectors remains steadfast. Since Russias invasion, the EU has committed over €50 million for this purpose. Yet threats continue, which is why we launched the Team Europe for Cultural Heritage in Ukraine and increased support through Creative Europe. We will persist in defending, promoting, and restoring Ukraines culture and heritage, essential for its resilience and our shared European future.
Under the Team Europe initiative, over 60 actions will be implemented starting in 2025, including targeted training, scholarships, and support to store, showcase, and preserve endangered artifacts.
Projects will be tailored to meet the specific needs of Ukrainian culture and heritage professionals, artists, and cultural heritage, facilitating access to culture and supporting heritage preservation and artistic performance both in and outside Ukraine. Furthermore, the Commission recently published a study to assist Ukraine in establishing the Ukrainian Cultural Heritage Fund.
(For more information: Eva Hrncirova – Tel.: +32 2 298 84 33; Quentin Cortès - Tel.: +32 2 291 32 83)
European Commission kickstarts 2026 New European Bauhaus Festival*
The European Commission has invited architects, citizens, companies, cultural actors, innovators, and researchers to contribute to the third edition of the New European Bauhaus Festival 2026, set for June 9-13, 2026, in Brussels. The biannual event celebrates the New European Bauhaus, an initiative focused on creating beautiful, inclusive, and sustainable living spaces. The 2026 edition will highlight the role of democratic engagement in shaping the future. The calls for expressions of interest relate to three Festival components: the Fair, showcasing projects supporting New European Bauhaus values; the Fest, a convergence of culture, art, and community; and Satellite events, independently organized in Brussels, Europe, and beyond, in line with Bauhaus values. The deadline to submit proposals is September 30, 2025, for the Fair and Fest, and December 31, 2025, for Satellite events. Submissions can be made at this page.
(For more information: Thomas Regnier – Tel.: +32 2 299 10 99; Marine Strauss - Tel.: +32 2 298 91 03)
Commission seeks feedback for the revision of EU antitrust enforcement framework
The European Commission has launched a Call for Evidence and a public consultation inviting stakeholders to provide feedback on the future of EU procedures regarding the application of competition rules. The Commission aims to revise the relevant rules based on the evaluation results, which will be published in September 2024 along with a Staff Working Document. This revision seeks to keep pace with transformative changes, such as the digitalization of the economy. All interested parties can express their views by October 2, 2025.
Executive Vice-President for Clean, Just and Competitive Transition, Teresa Ribera, stated: After more than twenty years of successful enforcement, it is time to adapt our antitrust toolkit to address todays challenges. The revision of Regulation 1/2003 will shape EU competition policy, ensuring we are equipped with the best tools for modern and effective antitrust enforcement—guaranteeing that our competition rules continue to benefit the internal market, citizens, and businesses in a rapidly evolving economy.
A press release is available online.
(For more information: Thomas Regnier – Tel.: +32 2 299 10 99; Sara Simonini - Tel.: +32 2 298 33 67)
Commission clears acquisition of IES by Fortress and First Reserve
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Island Energy Investor Holdings LLC (IES) by Fortress Investment Group LLC (Fortress), both from the US, and First Reserve Management LP (First Reserve) from the Cayman Islands.
The transaction primarily concerns the supply of petroleum products in Hawaii, US.
The Commission concluded that the notified transaction would not raise competition concerns, as the joint venture has negligible activities within the European Economic Area. The notified transaction was examined under the simplified merger review procedure.
More information is available on the Commissions competition website, in the public case register under case number M.12048.
(For more information: Thomas Regnier – Tel.: +32 2 299 10 99; Sara Simonini - Tel.: +32 2 298 33 67)
ANNOUNCEMENTS
Executive Vice-President Ribera and Commissioners Hoekstra, Jørgensen and Roswall participate in the EU-China High-Level Climate and Environment & Energy Dialogues
On July 13 and 14, Executive Vice-President Ribera and Commissioners Wopke Hoekstra, Dan Jørgensen, and Jessika Roswall will be in Beijing for the Sixth EU-China High-Level Environment and Climate Dialogue (HECD). This platform enhances bilateral cooperation between the EU and China on domestic and international policies. The 12th EU-China Energy Dialogue and the second dedicated EU-China High-Level Policy Dialogue on Circular Economy will also occur during this visit.
On Monday, following opening remarks by co-chairs Executive Vice-President Ribera and Chinese Vice-Premier Ding Xuexiang, the HECD will begin with two policy sessions. The first, featuring Commissioner Hoekstra, will focus on the upcoming COP30 UN Climate Conference and the preparations of the EUs and Chinas nationally determined contributions. They will also discuss ongoing bilateral cooperation on climate policies and share insights on the progress made on related domestic policies, particularly in reducing emissions in the energy sector. The second policy session will see Commissioner Roswall address common global environmental challenges, including the upcoming negotiations towards a Global Plastics Treaty and preparations for the next COP17 to the Convention on Biodiversity next year. They will also discuss bilateral cooperation on water, circular economy, wildlife protection, and pollution.
Earlier that day, Commissioner Jørgensen will lead the Energy Dialogue, focusing on the energy transition. Commissioner Roswall will also chair the High-Level Policy Dialogue on Circular Economy.
On Sunday, Executive Vice-President Ribera and Commissioner Jessika Roswall will attend policy roundtables with stakeholders on the green transition and the environment. Additional bilateral meetings with Chinese government representatives will be held during their stay.
More information on meetings is available in the Commissioners agendas.
(For more information: Anna-Kaisa Itkonen – Tel.: +32 2 295 75 01; Ana Crespo Parrondo – Tel.: +32 2 298 13 25)
Tentative agendas for forthcoming Commission meetings
Note that these items can be subject to changes.
Upcoming events of the European Commission
Eurostat press releases
Calendar items of the President and Commissioners
*Updated July 11, 2025, at 12:19 CEST.