A final agreement was reached at 2 a.m. on Tuesday after compromise negotiations in Brussels.
This agreement brings about a historic cost reduction, says Swede Jörgen Warborn (M), who led the negotiations on behalf of the EU Parliament, at a press conference.
The agreement on the CSR and CSDD directives means, among other things, that fewer companies must report on how subcontractors outside the EU behave in terms of, for example, the environment and labor law.
The simplifications are part of the European Commission's drive to reduce bureaucracy to increase competitiveness in the EU. However, the measures have drawn criticism from climate activists and human rights organizations.
