Mr. Neil Willoughby:

It potentially will. We have to see how the eventual legal text is. Certainly, the original CSRD has placed an undue burden on SMEs and medium-sized companies. We also have to take that into account. For different companies and sectors, it will be difficult in various ways. Certainly, it will be very challenging for them, but I think the two things go together. In order for the large companies we are talking about to comply, they need information from the companies they work with in their supply chains. The two things need to go together. The SMEs certainly need to be prioritised for supports. If they get adequate supports, the large companies will be able to comply.

To go back to the Deputy's question about greenwashing and consumer protection, the CSRD will enable unprecedented access to transparency around companies, investments and what they are doing. It is a significant step change. That is important to recognise as well.