Sustainability regulations continue to evolve, shaping compliance requirements and business strategies across industries. This quarter, the EU has proposed a 2040 climate target, Norway has opened a consultation on the Green Transition Directive, and the Commission is preparing revisions to CBAM. At the same time, simplified EU Taxonomy reporting has been confirmed for Norwegian companies, new IMO fuel data reporting rules have entered into force, and the updated Standard Lease Agreement for commercial properties introduces strengthened environmental obligations.Explore this quarter's key developments below.
Keep up with the latest in Sustainability regulation
Each quarter, we bring you the Thommessen Sustainability Update, featuring the latest developments in key focus areas, including Shipping, Responsible Business, Real Estate, Investment and Finance, as well as Overriding Regulations. Explore the Sustainability Database for detailed insights on 80 sustainability regulations and initiatives, or read our sector-specific summaries below.
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Simplified EU Taxonomy reporting – also available for Norwegian companies
On 4 July 2025, the European Commission adopted a Delegated Act simplifying EU Taxonomy disclosures, expected to apply from 1 January 2026 for the 2025 financial year. The changes reduce administrative burdens through streamlined templates, fewer data points, and exemptions for non-material activities. This week, the Norwegian Ministry of Finance confirmed that Norwegian companies may apply the same simplified rules in their 2025 reporting, even if formal implementation into Norwegian law is delayed.
Stronger consumer protection in the green transition
The EU adopted the Green Transition Directive in March 2024, introducing new requirements to help consumers make more sustainable choices and protect against misleading practices such as greenwashing. The rules include clearer information on product durability and reparability, as well as stricter bans on unfair commercial practices. The directive must be implemented in national law by 27 March 2026. In Norway, the Ministry of Children and Families has launched a consultation on the necessary legal amendments, with a deadline of 30 September 2025.
New IMO fuel data reporting requirements from 1 August 2025
Amendments to MARPOL Annex VI Appendix IX now require ships to report fuel consumption in more detail, including by consumer and fuel type. To comply, SEEMP Part II must be updated and reviewed by the flag administration (or a recognised organisation) before data collection begins. For new vessels delivered on or after 1 August 2025, the requirements apply immediately. For existing vessels, SEEMP Part II revisions must be reviewed by 31 December 2025, with new data collection starting from 1 January 2026. SEEMP Part III must also be updated with a CII implementation plan for 2026–2028.
Upcoming changes to the EU's Carbon Border Adjustment Mechanism (CBAM)
In summer 2025, the European Commission announced an initiative to revise the CBAM, including possible extensions to downstream products, new anti-circumvention measures, and updated electricity rules. Draft legislation is expected during autumn 2025, with potential impacts for companies across several value chains. The revisions are intended to strengthen CBAM as a tool to prevent carbon leakage while ensuring fair competition for EU industry.
Commission proposes 90% emission reduction target for 2040
In July 2025, the European Commission proposed amending the European Climate Law to set a target of reducing net greenhouse gas emissions by 90% by 2040 compared to 1990 levels. Delivering on this ambition will depend on the Clean Industrial Deal, positioned as a driver of both growth and decarbonisation. The proposal has now been submitted to the European Parliament and the Council for discussion and adoption, marking a major step in shaping the EU’s climate trajectory beyond 2030.
New Standard Lease Agreement for Commercial Properties
The eighth edition of the Standard Lease Agreement for commercial properties (“Meglerstandarden”) was released on 24 June 2025. The update strengthens environmental provisions by requiring both parties to document, assess and use circular and energy-efficient solutions, where technically, economically and practically feasible. The Environmental Agreement is still a core element and the updated standard presumes that parties have already agreed on—and annexed—the environmental measures at signing. Furthermore, a new optional clause gives landlords the right to implement environmental upgrades during the lease term, and to allocate the costs of energy‑efficiency measures among tenants.
