The EU definitively approves lowering sustainability requirements for large companies

The European Union (EU) gave the final go-ahead on Tuesday to lower sustainability and due diligence requirements for large companies, a measure with which it seeks to simplify EU regulations and thus boost the bloc’s competitiveness.

Member states approved the agreement reached in December with the European Parliament to ease the requirements and reduce the scope of the Sustainability Reporting (CSRD) and Due Diligence (CSDDD) directives, created to strengthen transparency and ensure that companies identify, anticipate and mitigate the social and environmental impact of their activities.
“We will reduce unnecessary and disproportionate burdens on our companies, with simpler, more specific and proportionate rules for both our companies and our citizens. A more autonomous Union also means a more competitive Union,” said the Deputy Minister of European Affairs of Cyprus, whose country is currently presiding over the Council of the EU.

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