EU Parliament moves closer towards imposing mandatory company climate transition plans

Last year the EU Commission adopted a proposal for a Directive on corporate sustainability due diligence. The Directive will mandate EU companies to develop transition plans to achieve climate neutrality within their long-term corporate strategies. It also links the plans to the remuneration of directors in large companies. Earlier this month, the Legal Affairs Committee of the European Parliament secured a compromise on the contents of the Directive and adopted a formal position on it. The EU Parliament will now vote to agree on its final position on the Directive later this month, before formal negotiations between the Commission and EU Council take place.

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