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Greens, socialists hope centrist alliance will limit scale of EU deregulation

MEPs overwhelmingly backed today a proposal to delay new EU rules of corporate sustainability reporting and mandatory due diligence on the environmental and social impacts of trading partners, with the Greens joining a centrist alliance of social democrats, liberals and conservatives that they hope will strengthen the centre ground of EU politics.

The ‘stop the clock’ measure proposed by the European Commission on 26 February was rushed through using an emergency legislative procedure on the grounds of an imminent threat to the competitiveness of European businesses, an issue that the president of the EU executive, Ursula von der Leyen, has made the hallmark of her second term.

The legislation adopted today is the first part of what the Commission has said will be a series of ‘omnibus’ proposals to ‘simplify’ the administrative burden for firms operating in the EU, but which critics – unions and environmental campaigners among them – fear will turn into a drastic deregulation targeting worker rights and Green Deal legislation adopted under von der Leyen’s first presidency.

Governments now have an extra year, until July 2027, to incorporate the due diligence rules into national law, while the sustainability reporting directive will only take effect in 2028, and a year later for small firms with fewer than 250 employees. In the meantime, legislators will now have time to discuss a proposal to limit the content and scope of the laws.

The Greens, concerned at the extent to which the forthcoming negotiation might lead to further watering down of the rules, welcomed the four-party agreement with the conservative European People’s Party, liberal Renew and centre-left Socialist & Democrats they say will limit potential for parties

Read more on euronews.com
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