EU Corporate Sustainability Due Diligence - political agreement on the Directive is reached!

The Council and Parliament have reached a ‘provisional deal’ on the long awaited ‘CSDDD’.

• large companies have obligations for environmental and human rights issues in their business chains;

• obligation to adopt climate plans

• penalties and civil liability for breach of those obligations

• provisional exclusion of the financial sector (investment and lending)

Corporate sustainability due diligence: Council and Parliament strike deal to protect environment and human rights - Consilium (europa.eu)

Corporate due diligence rules agreed to safeguard human rights and environment | News | European Parliament (europa.eu)

Next steps: Each institution must now formally approve the text which will then be adopted.