EP proposes draft rules simplifying sustainability reporting and due diligence by narrowing scope to large firms, adopting a RBA and making sector-specific reporting optional

The draft amendments reduce social and environmental reporting obligations so that they apply only to companies averaging over 1,000 employees and a net turnover above €450 million, and limit mandatory due-diligence rules to large companies with over 5,000 employees and €1.5 billion turnover. Further, the rules eliminate EU-level civil liability for breaches (leaving victims to rely on national law) and establish a digital portal offering free templates and guidance to support compliance…