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EU's Corporate Sustainability Due Diligence Directive will introduce mandatory human rights and environmental due diligence requirements for large EU and non-EU companies operating in the EU, arising from (i) their own operations, (ii) the operations of their subsidiaries, and (iii) the operations of their business partners in its chain of activities

📢 𝗕𝗶𝗴 𝗡𝗲𝘄𝘀 𝗳𝗼𝗿 𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀: 𝗧𝗵𝗲 𝗖𝗦𝗗𝗗𝗗 𝗶𝘀 𝗖𝗼𝗺𝗶𝗻𝗴! Then Sustainability Due Diligence Directive (#CSDDD) is back on track for approval! With the backing of member states representing over 65% of the EU population, this directive is on the verge of final approval in the EU parliament. 🎯 The CSDDD mandates that companies take accountability for their impact on both people and the planet across all aspects of their operations. ➡ Key provisions include the identification and mitigation of potential risks within the supply chains while also paying attention to critical issues such as child labor, carbon emissions, pollution, and biodiversity loss. ➡ Companies need to ensure human rights and environmental standards are aligned with suppliers and partnerships, hold suppliers responsible for ethical practices, and integrate sustainability throughout their operations. 𝗥𝗲𝗮𝗱𝘆 𝘁𝗼 𝘁𝗮𝗸𝗲 𝗮𝗰𝘁𝗶𝗼𝗻? Net0’s AI-powered decarbonisation platform can help your business navigate the complexities of the #CSDDD and achieve your sustainability goals. 𝗚𝗲𝘁 𝗮 𝗱𝗲𝗺𝗼 𝘁𝗼 𝗹𝗲𝗮𝗿𝗻 𝗺𝗼𝗿𝗲 👉 https://net0.com/demo #climate #sustainability #esg #sustainabilityreporting #eu #europe #sustainsbilitystandards #csrd #csddd Read more: https://lnkd.in/gNrDkYhm

In their new Legal Insight, Johannes Frank, Carina Fürnkranz and Stefan Holub examine the European Union's Corporate Sustainability Due Diligence Directive (CSDDD), which has been endorsed by the EU Council, marking a significant legislative milestone. The directive, once adopted by the European Parliament expected in April 2024, requires companies operating within the #EU to conduct due diligence to identify and address environmental and human rights impacts throughout their chain of activities. Read the complete article on our website: https://lnkd.in/dF8sQEyF  #CSDDD #EuCouncil

Not necessarily completely unexpected, nevertheless it is a hugely disappointing outcome on the EU #corporatesustainability #duediligence directive (CS3D). The key reasons for not approving the directive include avoiding placing on businesses 'additional bureaucracy', 'red tape' and potential negative 'legal impact' that would put them at a disadvantage to those operating elsewhere in the world. However, the fact that elsewhere the regulation might be even more lax (giving or not a competitive advantage) does not make the outcome any more justifiable. The issue is pretty simple, it is not about some businesses vs some other businesses but about stopping normalising the exploitation of people and the environment for financial gain because #sustainabledevelopment is everyone's business. Thus, it's still not quite over yet and there is still a (small) chance that the legislation will be pushed through. There is also the Corporate Sustainability Reporting Directive (CRSD) which was formally adopted last year (2023), requiring businesses to disclose their social and environmental impacts (hence covering many of the same grounds); but it applies within the EU only, whereas the CS3D would have a global application (including business operations and sourcing outside the EU) and hence having a much narrower impact. Surely we can do better than that? #bizhumanrights #workersrights #humanrights #sustainabledevelopment #sustainablebusiness #esg Beata Faracik Rebekah A. Krzysztof Kubacki Gareth W Marriott Lauren Zanetti Dariusz Siemieniako Cam Bower Nicholas Bernhardt https://lnkd.in/dENShhtX

🌍🤝 Exciting news from the EU! 🇪🇺 Today, the Council and the European Parliament have reached a provisional deal on the Corporate Sustainability Due Diligence Directive (CSDDD) aimed at bolstering environmental protection and human rights both within the EU and globally. 📜 The CSDDD sets out obligations for large companies concerning actual and potential adverse impacts on human rights and the environment. These obligations extend to their operations, subsidiaries, and business partners. Key Elements of the Agreement: Scope: Applies to companies with more than 500 employees and a net worldwide turnover of €150 million, or non-EU companies with a €300 million net turnover generated in the EU. Climate Change: Companies must adopt plans in line with the Paris agreement. Penalties: Fines for non-compliance to be based on company turnover (up to 5%). 📈 This directive marks a significant step towards corporate accountability and sustainability. The agreement outlines clear measures and criteria for companies, aiming to ensure environmental and social responsibility in their operations. Let's continue fostering corporate sustainability and responsible business practices for a better world! 🌍🌟 #CorporateSustainability #EURegulation #SustainableBusiness

🌱 The European Union's Corporate Sustainability Due Diligence Directive (CSDDD) has arrived just in time for the beginning of spring! Once adopted by the European Parliament in April 2024, this directive will require companies operating within the EU to conduct due diligence to address environmental and human rights impacts. Dive into the full article on our website below... #EU #CorporateSustainability #CSDDD

EU and European's Council's new agreement on Environmental sustainability and liabilities in term of corporates. Check out my new article about the planation of the agreement 👇🏼👇🏼 #europeancouncil #europeanunion #eu #corporate #corporatesustainability #duediligence

The Council of the European Union and the European Parliament have reached a provisional agreement on the Corporate Sustainability Due Diligence Directive (“#CSDDD”). The Due Diligence Directive sets out rules on the obligations of large companies about the actual and potential negative impacts on the #environment and #humanrights. #texspacetoday #Government #EU #europe

Today it is clear that the #CSDDD is here to stay, and companies must adapt to the new obligations. Check out our Schoenherr Attorneys at Law Legal Insight! #CSDDD #SupplyChainCompliance #ESGCompliance

After a two-and-half-year legislative journey, the EU’s Corporate Sustainability Due Diligence Directive (“CSDDD”), has been published in the Official Journal of the EU today, 5 July 2024. It will come into operation in a staggered way in the coming years, and will introduce mandatory human rights and environmental due diligence requirements for large EU and non-EU companies operating in the EU. Read more here. https://ow.ly/j22L50Sw8zf #whitecase