EPP Allies with Right-Wing Parties, Weakens EU Sustainability Rules

European Parliament Approves New Sustainability Reporting Package: A Shift in Strategy and Due Diligence RequirementsThe European Parliament has passed a new package aimed at simplifying corporate sustainability reporting, which also weakens some due diligence requirements for businesses across the continent. The vote, led by the European Peoples Party (EPP) in collaboration with the European Conservatives and Reformists and the far-right Patriots for Europe, marks a significant shift from the previous October rejection.The approved legislation now applies only to companies with more than five thousand employees and an annual turnover exceeding one point five billion euros, a notable increase from the original proposal. This move is part of a broader EU effort to streamline regulations and make it easier for companies to comply with sustainability and due diligence obligations.The successful passage of the bill highlights a new trend within the European Parliament, where the EPP, the largest group, is demonstrating its ability to form majorities with either centrist or right-wing parties, depending on the issue. This dual approach could have significant implications for future legislation, particularly on environmental and migration policies.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.