The European ‍Union ‍struck a ​deal on Tuesday to ⁠cut back its ⁠corporate sustainability laws ‌and exempt most companies from ⁠having to comply with the rules.

The EU ⁠Parliament and ​EU countries must each give ‍formal approval to ​the changes before they pass into law. That step is usually a formality that waves through pre-agreed deals. ($1 = 0.8591 ⁠euros) (Reporting ‌by Mrinmay Dey and ‌Kate ⁠Abnett in Bengaluru; Editing by ⁠Christopher Cushing)