On 10 March the European Parliament adopted its draft report containing recommendations to the European Commission on corporate due diligence and accountabilit. The text marginally modifies the European Parliament Committee on Legal Affairs’s initial version published in January 2021, and, in spite of opposition pressure, has chosen to maintain stock market listed and high-risk SMEs within its scope (for our report on its adoption c.f. article No.12339). This latest report should inform the legislative proposal that the European Commission will be presenting by June 2021 (for more on this much awaited initiative c.f. articles No.12257, No.12202, No.11914 and No.11675).
On 10 March, Europe’s MEPs voted in favour of the initiative report with 504 votes for, 79 against, and 112 abstentions. The document’s opening statement says it all in so far as the European Parliament considers that voluntary standards on due diligence have their limits and have not resulted in significant progress. MEPs have accordingly decided to require companies to identify, prevent and reduce the social and environmental impacts of their activities throughout their supply chains.
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