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Corporate Sustainability Due Diligence

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Soon, substantial penalties can be expected for non-compliance with the proposed Corporate Sustainability Due Diligence Directive (“CSDDD”) which oblige companies to implement due diligence processes to address their adverse impact on slavery, child labor, labor exploitation, biodiversity loss, pollution, and environmental degradation. What is new? On 23 February 2022, the EU Commission proposed the CSDDD.[1] Later, on 30 November 2022 the EU Council adopted its negotiating position (“general approach”) on the CSDDD.[2] Recently, on 1…

On 23 February 2022, the EU Commission published its proposal for a directive on corporate sustainability due diligence obligations, which aims to foster sustainable and responsible corporate behaviour throughout global value chains. Scope The new due diligence rules will apply to: all EU limited liability companies with 500+ employees and EUR 150 million+ in net turnover worldwide (“Group 1”); and other limited liability companies operating in defined high impact sectors (e.g. the textile, mining and…