Simplifying rules for sustainability and due diligence
The Parliament approves its negotiating position on amendments to the rules on sustainability and due diligence. The aim is to simplify sustainability reporting and the rules for monitoring the social and environmental impacts of business.
Under the new regulation, the obligation to report sustainability information would only apply to companies with more than 1,750 employees and a turnover of more than €450 million per year. Reporting under the so-called EU taxonomy would also be affected. Reporting would be simpler, less detailed and sector-specific requirements would be voluntary. At the same time, smaller companies will not have to provide more data to large partners than the voluntary standards.
The due diligence rules are now to apply only to very large companies - i.e. those with more than 5,000 employees and a turnover of more than €1.5 billion. They are supposed to monitor supply chain risks based on the information available, and can only request additional documents from smaller suppliers in exceptional cases.
They will also no longer have to prepare a plan to align their business with the Paris Agreement.
In the event of misconduct, companies will be held accountable at national level, where they will have to fully compensate victims.
We collect and visually present data publicly available at the page of European Parliament. Votemap.eu denies any responsibility for possible inconsistencies of the data or its changes after the publication.
Descriptions are created using DeepL Translate machine translation. We apologize for any possible imperfections or inconvenience.
