08:43 AM EDT, 09/18/2025 (MT Newswires) -- Exxon Mobil ( XOM ) chief executive officer Darren Woods calls for the European Union's corporate sustainability due diligence directive to be revoked entirely, and warns that the regulation will cause more businesses to leave the continent, Reuters reported Thursday, citing Woods.

Woods spoke with officials in US President Donald Trump's administration who work on EU, and the administration has raised concerns about corporate sustainability law as part of its trade negotiations with the bloc, the report cited Woods as saying in an interview.

EU's corporate sustainability due diligence directive requires corporations to address human rights and environmental issues within their supply chains or face a baseline fine of 5% of their respective global turnover, the report said.

The European Commission has proposed loosening the law in response to criticism from business and leaders of France and Germany.

"We have slowly been pulling out of Europe", Woods said, noting that Exxon Mobil ( XOM ) has exited nearly 19 operations due to what he described as red tape impeding the business, Reuters reported.

Exxon Mobil ( XOM ) did not immediately respond to MT Newswires' request for comment.

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