In 2022, the European Commission put forward a proposal for a directive on corporate sustainability due diligence, aimed at creating more responsible corporate behavior's throughout global value chains. The Commission argues that these new rules will bring certainty and a level playing field for the business sector, while there will be more transparency for consumers and investors.
The proposed directive aims to establish a mandatory due diligence framework for EU-based companies and their supply chains to identify, prevent, and mitigate adverse human rights, environmental impacts. The directive is expected to cover a wide range of issues. However, there are ongoing discussions about what should be covered in the directive, the size requirements of the companies that should be included, and the impact it can have on SMEs.
With trialogue negotiations set to begin in the coming months, some stakeholders argue that companies need more clarity regarding the standards and duties. Having clearer assessment standards will help collect relevant data from the companies that would be subjected to the new regulations. To achieve this, stakeholders also emphasize the need for an independent level playing field for states and companies, and the importance of exchanging good practices with global actors, such as those regarding sustainable value chain management.
Listen to Euractiv's Hybrid Conference to discuss the implications of the corporate sustainability due diligence directive. How can clear standards help collect the most relevant data from companies? And how can harmonious processes be enforced and lead to a unified global sustainability framework?
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By Euractiv's Advocacy LabIn 2022, the European Commission put forward a proposal for a directive on corporate sustainability due diligence, aimed at creating more responsible corporate behavior's throughout global value chains. The Commission argues that these new rules will bring certainty and a level playing field for the business sector, while there will be more transparency for consumers and investors.
The proposed directive aims to establish a mandatory due diligence framework for EU-based companies and their supply chains to identify, prevent, and mitigate adverse human rights, environmental impacts. The directive is expected to cover a wide range of issues. However, there are ongoing discussions about what should be covered in the directive, the size requirements of the companies that should be included, and the impact it can have on SMEs.
With trialogue negotiations set to begin in the coming months, some stakeholders argue that companies need more clarity regarding the standards and duties. Having clearer assessment standards will help collect relevant data from the companies that would be subjected to the new regulations. To achieve this, stakeholders also emphasize the need for an independent level playing field for states and companies, and the importance of exchanging good practices with global actors, such as those regarding sustainable value chain management.
Listen to Euractiv's Hybrid Conference to discuss the implications of the corporate sustainability due diligence directive. How can clear standards help collect the most relevant data from companies? And how can harmonious processes be enforced and lead to a unified global sustainability framework?
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