The Omnibus 1 agreement has finally been signed off – but what happens next? 

In this last episode before the Christmas break, Frank Bold’s Senior Policy Officer Julia Otten and Andreas Rasche, Assistant Dean and Professor of Business in Society at Copenhagen Business School, return to the Frankly Speaking podcast, hosted by Richard Howitt, to give their final verdict on what the Omnibus 1 means for the effectiveness of sustainability legislation in the EU. 

Together they discussed to what extent the final Omnibus package provides certainty to businesses and broke down the key changes to the Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CSDDD). You’ll also hear more about: 

• How the Omnibus 1 changes may impact businesses in the future – including the risk of facing heavier burdens due to less available information 

• The significance of the Ombuswoman’s finding of malpractice by the European Commission during this Omnibus 1 process, especially for future simplification packages 

• The role of the far-right in pushing through the final Omnibus 1 text, and why companies have an obligation to speak out  

• Whether historians writing on this period may still regard this era of simplification as a step forward, not a step back 

• Julia and Andreas’s advice to companies on what they should do now the final Omnibus 1 package has been concluded 

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Against the backdrop of the final Omnibus agreement emerging from trilogues, what will continued US political and corporate pressure mean for the future of EU environmental and human rights due diligence legislation? 

In this episode of the Frankly Speaking podcast, Richard Howitt was joined by Abrial Gilbert-d'Halluin, Policy Advisor for MEP Raden Kanev and original parliamentary sherpa for the Corporate Due Diligence Directive (CSDDD), and Professor Michael Mehling, Deputy Director of the Centre for Energy and Environmental Policy Research at Massachusetts Institute of Technology (MIT). 

Together they discussed the principle of extraterritoriality in the EU’s CSDDD legislation, and why it’s seen such unprecedented pushback from both politicians and businesses in the United States lobbying against the directive. You’ll also hear more about: 

• Why the CSDDD’s extra-territorial reach is so important in limiting environmental and human rights abuses across global value chains  

• The US perspective on EU sustainability and due diligence rules, and why both sides of the American political spectrum take issue with external corporate regulation (including the Clinton administration back in the 1990s) 

• How the US is responding to the EU Carbon Border Adjustment Mechanism (CBAM), including the showdown between the ‘Brussels vs Trump effect’ 

• The crucial role of sovereignty in discussions on external regulation 

• The vague wording of the EU-US trade deal on the CSDDD, and what it means for the effectiveness of the directive’s extraterritoriality principle 

• How US corporates are doing on environmental and human rights due diligence  

• What makes Michael and Abrial optimistic for the future of corporate accountability globally 

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How can companies carry out effective human rights due diligence? 

In this episode of the Frankly Speaking podcast, Richard Howitt was joined by Niklas Wehner, Director of Corporate Responsibility International for ALDI South Group, which has over 7,500 stores across eleven countries and employs over 200,000 people. 

Together they discussed ALDI South Group’s approach to human rights due diligence, and how it has been complying with the German Supply Chain Act. You’ll also hear more about: 

• How ALDI South Group has adopted the role as the trusted mediator between local producers and suppliers in disputes, and examples of it how it has achieved remediation for workers in its global supply chain 

• Why the company sees great potential in the Corporate Sustainability Due Diligence Directive to harmonise standards and prevent the fragmentation of national laws within the EU 

• ALDI South Group’s perspective on the Omnibus 1 proposals currently being debated in trilogues  

• Niklas’s verdict on what the Omnibus will mean for the future of corporate human rights due diligence globally  

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Is the world on track to achieving living wages? 

In this episode of the Frankly Speaking podcast, Richard Howitt was joined by Petter Forslund, Engagement Manager at AP2, Sweden’s second national pension fund, and Steering Committee Member of the Platform Living Wage Financials, an investor coalition that supports companies in providing living wages in global supply chains. 

Together they assessed to what extent there has been global improvement in firms paying a living wage, as well as why investors should help to drive social standards in companies and their supply chains. You’ll also hear more about: 

• The Platform Living Wage Financials' Benchmark on company performance on living wages, including its main findings   

• How the Platform prioritises dialogue when engaging with companies, only using divestment as the final option  

• The reasons behind the ongoing need for changes in methodology around the living wage 

• The weaknesses in the social auditing process, and how the Platform is working to improve it 

• The issue of adequate wages in the revised European Sustainability Reporting Standards (ESRS), and how it discriminates against non-EU workers 

• The Sweden perspective on the debate on sustainability and fiduciary duty  

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Right from the beginning of the Omnibus 1 debate, European policy-makers have repeatedly framed human rights due diligence as a huge barrier to competitiveness. But does this actually reflect the reality? 

In this episode of the Frankly Speaking podcast, Richard Howitt was joined by Dr Siniša Milatović, Programme Manager at UNDP and Olena Uvarova, UNDP Business and Human Rights Specialist as well as Associate Professor at Yaroslav Mudryi National Law University in Ukraine.  

Together they explained the key findings of their recently released report “Human Rights vs Competitiveness – A False Dilemma?”, which is the first research that finds evidence showing that respect for human rights is good for business. You’ll also hear more about: 

• The report’s key takeaway that stronger human rights performance increased corporate efficiency, leader to tangible economic benefits 

• The robust methodology behind the report, based on the Corporate Human Rights Benchmark (CHRB)  

• The research’s finding that investors did not punish firms for improved human rights performance, contrary to popular belief  

• Siniša and Olena’s message to European policymakers negotiating the Omnibus proposals  

• How business and human rights have been developing in Ukraine during wartime 

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What progress has been made so far in heavy industry’s journey towards net zero, and what more needs to be done to aid them in their transformation? 

In this episode of the Frankly Speaking podcast, Richard Howitt was joined by Jiří Mravec, Head of Innovation and Transformation at Třinecké železárny (Třinec Iron and Steelworks) and Antonín Šámal, Research Fellow at the thinktank Association for International Affairs (AMO Klima). 

Together they assessed the European Commission’s Clean Industrial Deal and whether businesses are receiving enough support in their transition to low carbon. You’ll also hear more about: 

• The four key conditions needed for the steel industry to be able to successfully decarbonise  

• The impact that the Trump administration’s tariffs on steel has had on Třinec Steelworks  

• The role of member state implementation in the Clean Industrial Deal, and why it’s holding back progress on decarbonisation in the EU 

• To what extent technological innovation will be required in order for heavy industries such as cement production and the chemicals industry to reach net zero emissions  

• How important carbon capture and storage and green hydrogen is in Třinec’s decarbonisation strategy  

• What a steelmaking company make look like in the year 2050 

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Why is Thailand determined to be the first government in Asia to pass a mandatory human rights due diligence law for companies, and what are the implications for the rest of the world? 

In this episode of the Frankly Speaking podcast, Richard Howitt was joined by Nareeluc Pairchaiyapoom, Director of the International Human Rights Division at Thailand’s Ministry of Justice.  

Together they discussed how responsible business has evolved in Thailand over the past decade, including the country’s two National Actional Plans on Business and Human Rights. You’ll also hear more about: 

• The impact that the pushback against human rights and environmental due diligence in the US and the EU is having on progress in Thailand 

• Why the Thai government sees stronger corporate human rights legislation as part of its journey towards gaining OECD membership and becoming a fully developed country 

• How the Thailand's first and second National Action Plans (NAPs) have been received by Thai companies 

• Nareeluc’s greatest takeaway from her work on advancing corporate accountability 

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What is product-level reporting, and how could it improve the quality and reliability of corporate sustainability disclosures? 

In this episode of the Frankly Speaking podcast, Richard Howitt was joined by Brian Hill, Academic Director of the Inclusive Economy Center in Sustainability and Organisations Institute at HEC Paris, and Research Director at the French National Centre for Scientific Research, CNRS. 

Together they explored the latest study from HEC Paris on product-level disclosures, and how it could transform how companies report on their sustainability plans. You’ll also hear more about: 

• Why product level scorecards solve the problem of companies having to make value judgements about sustainability information by leaving these decisions to the consumer 
• How conceptualising sustainability information in the same way as nutrional information will enhance the reliability of the data presented, according to the study 
• What makes product-level reporting more competitive than firm-level reporting 
• The possible roadmaps for the future of product-level reporting 
• How product-level reporting will prevent companies from greenwashing and hiding their negative impacts, according to the study 

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Amid all the noise and confusion around the future of corporate sustainability reporting due to the Omnibus modifications, what does the research actually tell us about the effectiveness of the EU’s sustainability legislation?  

The answer: the CSRD is working, and it's already driving meaningful change in practice – that's the key message from our latest report into 100 company disclosures  according to the directive. 

In this episode of the Frankly Speaking podcast, Richard Howitt was joined by Frank Bold experts Lorena Bisignano and Louis Establet who co-authored the study “Delivering on Sustainability: Evidence from the first year of CSRD implementation.” 

Together they revealed key insights from the performance record of 100 company disclosures across Western and Eastern Europe according to the CSRD and gave their advice to policymakers on how to best support companies in their sustainability reporting journey. You’ll also hear more about: 

• Double materiality having now become a standard analytical lens for companies  

• How companies are performing on climate transition plans  

• To what extent comparability between different company reports has improved compared to previous years  

• The weaknesses in companies’ approach to sustainability governance, and advice on how to improve  

• Which sector performed best in class, and which topic companies struggled the most to report on 

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Today, the JURI committee of the European Parliament will be voting on the Omnibus 1 proposal. What does this proposal mean for the future of corporate sustainability reporting? 

In this episode of the Frankly Speaking podcast, Richard Howitt was joined by Julia Otten, Senior Policy Officer at Frank Bold and Andreas Rasche, Assistant Dean and Professor of Business in Society at Copenhagen Business School. 

Together they broke down the implications of the Omnibus 1 text being voted on today and explained what we can expect from the upcoming trialogues and Danish Presidency of the Council. You’ll also hear more about: 

• How the proposal being voted on today excludes 90% of companies from the scope of the Corporate Sustainability Reporting Directive, representing two-thirds fewer companies than those included in the 2014 Non-Financial Reporting Directive 

• Why this Omnibus proposal no longer represents simplification but full-blown deregulation (as admitted by Commission President Ursula von der Leyen herself last week) 

• How the developments of the past week carry serious consequences not only for sustainability but also the future of democratic decision-making in the EU 

• Whether the objectives of the EU Green Deal are still alive  

• Julia and Andreas’s message to businesses at this critical moment in the Omnibus process, especially to those who will now be out of scope 

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