The European Parliament’s Committee on Legal Affairs voted Monday to amend its position on the European Union’s (EU’s) landmark corporate accountability law, introducing a series of changes to companies’ sustainability reporting and due diligence requirements.

The EUs corporate sustainability due diligence directive (CSDDD) was adopted last year and “ requires companies to fix human rights and environmental issues in their supply chains, or face fines of 5% of global turnover.” The new changes will result in fewer companies being required to report on sustainability and due diligence.

With the approval to amend the CSDDD, the rules will now apply only to companies with at least €1.5 billion in annual turnover and 5,000 or more employees. The law will also move to eliminate the re

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