EU Parliament Backs Delay of Upcoming Supply Chain Due Diligence Rules
The European Parliament on April 3 voted 531-69, with 17 abstentions, to postpone the effective date of new EU-wide supply chain due diligence rules for certain companies (see 2405240031). If formally approved by the European Council, the reporting rules would be postponed by one year for companies with over 5,000 employees and annual turnover of $1.6 billion, along with “non-EU companies with a turnover above this threshold in the EU.” Parliament said this means member states would have an extra year -- until July 26, 2027 -- to transpose the rules into their national legislation, and the companies “will only have to apply the rules from 2028.”
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The postponement wouldn’t apply to EU companies with over 3,000 employees and a net turnover of $976 million, and non-EU companies with turnover above that threshold in the EU.