During the plenary session of November 13, the European Parliament adopted its negotiating position on simplified sustainability reporting and due diligence duties for businesses.
Under the Parliament’s position, sustainability reporting would be lighter and only necessary for larger companies (businesses employing on average over 1,750 employees and with a net annual turnover of over €450 million). Moreover, due diligence obligations would apply only to very large EU and non-EU corporations (corporations with more than 5,000 employees and a net annual turnover of over €1.5 billion). Transition plans would not be required to make business plans compatible with the Paris Agreement, and businesses would be liable at the national rather than EU level. Finally, a new digital portal would be established for businesses with free access to templates, guidelines and information on all EU reporting requirements.
Negotiations with EU governments, which have already adopted their position on the file, began on November 18, with the aim of finalizing the legislation by the end of 2025.
This article originally appeared on inc.nutfruit.org.
