On 24 April, at the end of a long legislative process, the European Parliament definitively adopted the draft directive on due diligence. Although the last-minute efforts of some member states, under pressure from lobbies, have weakened the text, its advocates nonetheless describe this as a historic step forward in regulating the globalisation of value chains.
Within three years, all companies with more than 5,000 employees and annual turnover of €1.5 billion will have to prevent and remedy any negative impact their business has on human rights and the environment. All companies with at least 1,000 employees and annual turnover of €450 million or more will then be required to comply in stages from 2029. On 24 April, by 374 votes to 235, MEPs approved the text that emerged from a last-ditch compromise between the Parliament and the member states....
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Article authors
Antoine Piel
Section Head at Mind HR