EU Agrees to Weaken Corporate Sustainability Laws Amid U.S. Pressure
The European Union has reached an agreement to scale back its corporate sustainability laws, following significant pressure from various countries, including the United States and Qatar. The changes, agreed upon by EU governments and the European Parliament, will reduce the scope of the corporate sustainability due diligence directive (CSDDD) to only the largest EU corporations, specifically those with more than 5,000 employees and an annual turnover exceeding 1.5 billion euros. This decision comes after criticism from industries that EU regulations were hindering competitiveness. The revised laws will also apply to foreign companies with significant EU turnover, imposing fines for non-compliance. Additionally, the EU has delayed the compliance deadline to mid-2029 and removed the requirement for companies to adopt climate change transition plans. 
