The text discusses proposed changes to sustainability reporting and due diligence requirements for companies, aiming to simplify rules and reduce reporting obligations. Key points include the reduction of required reporting for companies with over 1,000 employees and turnover above 450 million euros, establishment of a digital portal for reporting, and limiting due diligence rules to large companies. Companies breaching due diligence obligations would be liable for damages under national law. The focus is on simplifying processes, enhancing competitiveness, and supporting Europe's transition to a sustainable economy. The next step involves negotiations on the final legislation.