EU Lawmakers Agree to Drastically Curtail ESG Directives
The headquarters of the European Commission in Belgium.
Photographer: Martin Bertrand/AFP/Getty ImagesEuropean Union lawmakers agreed to move ahead with major cuts to a set of sustainability directives, after intense pressure from the bloc’s biggest member states.
The EU Parliament’s Committee on Legal Affairs voted on Monday to have the Corporate Sustainability Reporting Directive (CSRD) apply only to companies with at least 1,000 employees; for the Corporate Sustainability Due Diligence Directive (CSDDD), the threshold will be 5,000. Both directives were originally intended to cover companies with at least 250 employees.