Sun. Jun 26th, 2022

1 June 2022

INTRODUCTION

BUSINESSEUROPE is the leading advocate for growth and competitiveness at European level, standing up for companies across the continent and actively campaigning on the issues that most influence their performance. We speak for all-sized enterprises in 35 European countries whose national business federations are our direct members.

Business supports the EU Green Deal and the Sustainable Finance agenda (both at the basis of the current proposal) and is committed to the transition to a climate-neutral economy by mid-century, and that this commitment also means leveraging private investments.

European companies fully understand the importance of becoming more sustainable and of addressing risks that can occur in their supply chains. Companies recognise the advantages of a harmonised EU framework on due diligence, which is also applicable to third-country companies operating in the EU. However, key conditions must be met related to workability, proportionality, legal certainty and level playing field.

The regulatory framework needs to be in line with, and complement, established tools such as the OECD Guidelines for Multinational Enterprises (OECD guidelines)1, United Nations Guiding Principles on business and human rights (UNGPs)2, the existing or in-the-making European climate and environmental policies (e.g., the Corporate Sustainability Reporting directive proposal or CSRD) as well as sectoral schemes that strengthen the role and engagement of European companies as ambassadors of European values across supply chains. Coherence with other EU due diligence measures (adopted or ongoing) is paramount to avoid duplication.

Read the full opinion ->

2022-05 BusinessEurope Comments Paper Corporate Sustainability Due Diligence

Source – BusinessEurope via Email: www.businesseurope.eu