It's a BIP from Craig Raw of Sparrow Wallet that specifies a human readable export format for wallet labels (in CSV), and how users should write such files so they can be imported into wallets. It has received some discussion already.
Sparrow wallet is my first alternative option for Electrum wallet, I love it's design, functionality and support for various devices and hardware wallets.
Exporting Labels already exist in Electrum wallet, but turning this into BIP and making labels import/exports for all different supported wallets is a great idea.
I am not sure how exactly BIPs get approved and accepted, but I don't see why anyone would be against this proposition, unless there are some disadvantages I am not aware of.