TotalEnergies and Siemens are seeking to abolish the EU corporate sustainability laws to shore up their economic competitiveness in an increasingly difficult world, according to a letter seen by Reuters.

The letter to Emmanuel Macron and Friedrich Merz was sent on behalf of 46 companies calls for reduced regulation, reform to competition law and rethinking of current sustainability rules.

Brussels is already looking to water down some restrictions on the onerous supply chain commitments that companies must make to trade in the EU. However, the letter goes further than most, asking that the rules be discarded altogether.

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