"EU States Thwart Corporate Sustainability Law in Last-Minute Vote"
TL;DR Summary
EU countries, led by Germany's Free Democrats, blocked a law requiring large companies to audit their supply chains for forced labor and environmental damage, citing concerns about excessive bureaucracy. This marks the second time the proposed corporate sustainability due diligence directive has been stalled, with Belgium considering addressing member states' concerns. The law, designed to take effect in 2027, would apply to EU companies with over 500 employees and a net worldwide turnover above 150 million euros.
Topics:world#business-politics#corporate-sustainability#environmental-damage#eu#forced-labor#supply-chain
- EU countries block supply chain audit law at last hour Reuters
- Germany and Italy torpedo EU supply chain law Financial Times
- EU Council Fails to Approve New Environmental, Human Rights Sustainability Due Diligence Law ESG Today
- EU Lawmakers ‘Outraged’ After States Block Landmark ESG Law Bloomberg
- Vote On EU Corporate Sustainability Due Diligence Law Falls Short, March 15 Deadline Looms Forbes
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