French President Emmanuel Macron has called for the European Union to abandon a key sustainability directive requiring large companies to ensure their supply chains uphold human rights and environmental standards. Speaking at the Choose France investment summit in Versailles on Monday, Macron said the directive creates unnecessary regulatory burdens that risk deterring foreign investment in Europe.
The comments came as France announced a record €20 billion in foreign direct investment (FDI) pledges, exceeding last year’s €15 billion and reaffirming its position as Europe’s top destination for FDI, according to EY rankings. The summit, attended by 200 global business leaders, saw major announcements across sectors including fintech, shipping, and artificial intelligence.
Macron, alongside German Chancellor Friedrich Merz, took aim at the EU’s Corporate Sustainability Due Diligence Directive (CSDDD), warning that such rules could become counterproductive. “We cannot burden our companies with ever-growing regulatory layers,” Macron said, positioning France as a pro-business leader seeking to simplify bureaucracy while maintaining sustainability goals through other means.
Among the major projects announced were a €6.4 billion plan by US logistics firm Prologis to build data centres and warehouses, and a €3.5 billion investment by MSC Cruises to construct passenger ships at Saint-Nazaire. UK fintech Revolut pledged €1 billion to establish its EU headquarters in Paris.
Despite the scale of investment, some executives voiced concerns over France’s regulatory landscape. Amazon France chief Frédéric Duval welcomed the progress but noted that “France has a lot of advantages, but it can still do better,” pointing to red tape as a key hurdle.
The summit also confirmed €20.8 billion in AI-related investments, including new facilities in Paris and Marseille. Meanwhile, Macron is expected to inaugurate the Paris office of Saudi Arabia’s Public Investment Fund on Tuesday, following a strong presence from Gulf sovereign wealth funds at the event.
