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Businesses across the EU will see certain obligations eased to help them thrive and contribute to Europe’s competitiveness — at least that is the European Parliament's pledge.
The European Parliament’s objective is to reduce reporting requirements on sustainability and human rights, as lawmakers voted on Monday to water down the bloc’s corporate due diligence rules.
Only companies with more than 5,000 employees — instead of the 1,000 adopted last year by the EU — and with a yearly turnover of €1.5 billion — instead of €450 million — will be obliged to comply with the bloc’s due diligence law, according to the vote cast by MEPs in the legal affairs committee with 17 votes in favour and six against.
The EU’s corporate due diligence law requires companies to check their supply chains for shady
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