European legislators have reached an agreement on companies' due diligence requirements with regard to sustainability. While there was strong pressure to weaken the obligations, 15,000 companies will now have to prevent and mitigate any human rights and environmental abuses along their value chain, under the stewardship of national authorities.
Whether an agreement would be struck remained in doubt right up to the end, while the question of whether or not to include the financial sector was the subject of fierce debate. Several countries, including France, wanted to see the financial sector excluded, while the majority of parliamentarians did not. After 20 hours of negotiations, the EU27 and the European Parliament reached agreement at the end of a final trialogue. National authorities will supervise the publication of due...
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Article authors
Antoine Piel
Section Head at Mind HR