Our key takeaway: And we’re off to the races. The European Commission has released its eagerly awaited proposal for a directive on Corporate Sustainability Due Diligence. The European Parliament and the European Council (and all of us reading this I’m sure!) will now start debating the directive before it is approved. Member States will then have two years to transpose the directive into national law. Expect a significant amount of discussion, debate and reflection over the next few months on what it would take for a law to effectively support companies in managing their impacts on people and the planet, in a way that aligns with international standards and expectations. A few key buzzwords you’ll hear again and again: stakeholder engagement, remedy, value chain, established business relationship, SMEs, liability and responsibility, civil and administrative enforcement, director duties – and the list goes on. We have our own views on the proposal, which we’re feeding into ongoing discussions, and will amplify others’ views as well where they are aligned with the objective of seeking to improve outcomes for people and enhance environmental protection in company supply chains.
The European Commission has released its proposal for a directive on Corporate Sustainability Due Diligence. A few key points: