June 24 (UPI) -- The European Union is set to amend its current ethical supply chain rules after its ambassadors endorsed a simplification bill from the Council of the EU.
"Today we delivered on our promise to simplify EU laws," said EU Minister of Poland Adam Szlapka in a press release Monday. "We are taking a decisive step towards our common goal to create a more favorable business environment to help our companies grow, innovate, and create quality jobs."
The bill would impact current environmental laws with the intention of shrinking the regulatory pressures on businesses in order to juice up the EU's economy.
Two such green rules are the EU's Corporate Sustainability Reporting Directive and the Corporate Sustainability Due Diligence Directive. These currently insist that all the companies that do business in the EU and have at least 1,000 employees report their environmental effects. The bill would increase the employee threshold that forces a company to comply up to 5,000 employees.
Related
