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CSDDD: Transforming Businesses towards Integral Sustainability
14/11/2023
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7 min
NOTICE! Compliance & ESG
The European Commission is proposing the Corporate Sustainability Due Diligence Directive (CSDDD), an important step towards a more holistic approach to sustainability.
This proposal goes beyond climate concerns and looks for companies, including those in the financial sector, to demonstrate how they are protecting the environment and supporting broader issues such as human rights. It's a call to action for all of us!
If the CSDDD is adopted, companies will be required to identify, prevent and mitigate the environmental and human rights impacts of their activities. Due diligence will not only be limited to their operations, but also to their subsidiaries and along their value chains!
Who will be affected? EU companies with more than 500 employees and a turnover of more than €150 million, among others. And although SMEs will not be directly in focus, they could feel the impact as contractors or subcontractors.
The CSDDD also encourages the alignment of business models and strategies with the Paris Agreement, and those companies that identify climate change as a major risk should include emissions reduction targets in their business plans.
But that's not all, there are also enforcement measures! Directors are expected to assume a key role and companies will be held civilly liable if they fail to comply with these obligations.
This change is in the legislative process, and although the final version is yet to be defined, the commitment to sustainability is undeniable.
Why am I telling you all this? Because it is a reminder of the importance of sustainability due diligence and corporate responsibility. Although the CSDDD could come into force in 2025, it is the perfect time to reflect on our practices and consider how we can improve.
How do you think these proposals can impact the world of business and sustainability?
If you want to implement a Due Diligence focused on Human Rights, please contact us at .....
