EU to pare back sustainability rules for companies, draft shows

By the fur of Kate ABNnt and Virginia

Brussels / Londers (Reuters) plans to reduce the number of companies in the EU Stability Reports, as some of its disk draft to reduce red ribbon has shown a draft document viewed by Reuters.

Brussels plans to publish the “Omnibus” offer next week to simplify green rules for business, aims to make local industries more competitive and respond to US President Donald Trump.

The European Union is also applying from member states, including Germany and France, demanding the rules of the Green Report, and others, including Spain, the EU’s values ​​for the preservation of the environment and human rights.

The partial draft of the forthcoming proposals submitted by Reuters, which has submitted a commission, plans to make changes in the EU Corporate Stability Report, which requires companies to identify information about their environmental and social stability.

According to the project, only more than 1,000 employees and 450 million euros ($ 450 million) are subject to liabilities of the rules before it can be changed.

Currently, the rules apply to enterprises with more than 250 employees and 40 million euros. The EU was also eliminated by its projects to adopt output reports until the next June, the project said.

The document also plans to postpone the law on proper diligence, known as CSDDD – which aims to provide companies in their supply and set proper diligence for large companies.

Proposal project will require companies to perform only professions of their direct business partners and subsidiaries, leaving other subcontractors and suppliers in their supply networks.

($ 1 = 0.9562 EUR)

(Report by Kate Abnet; Emelia Sithool Edit)