Pascal Canfin: "Companies that see the value of the CSDDD and CSRD should make their voices heard"

Pascal Canfin: “Companies that see the value of the CSDDD and CSRD should make their voices heard”

The European Parliament has embarked on its review of the fundamental revisions to the corporate sustainability reporting and due diligence directives (CSRD and CSDDD), which are set to be significantly watered down following a proposal by the European Commission, at a time when German and French leaders are pushing back against the latter directive. MEP Pascal Canfin, negotiator for the Renew Europe group, talks to mind HR about his role in this area and his consultation process with companies to inform his proposals.

Emmanuel Macron called for the abolition of the CSDDD after initially supporting it. Have you been able to find out more about the reasons for this U-turn?

For several months now, the French president has been sceptical about the due diligence directive. He has now made a rather radical statement, which I do not agree with. I believe that the text needs to be simplified and that the necessary steps must be taken to make it workable. However, I believe that having rules on responsible capitalism is both in line with our values and our interests. It is therefore necessary to have a European text on the subject, particularly because it is extraterritorial, whereas French law, for example, is not. This makes it possible to use the power of the single market to impose rules on countries that sell to us, whether it be China, for example, or other players that are known to fall below the social and environmental standards that we consider to be minimum standards. Many member states also think so.

EU: Emmanuel Macron takes aim at due diligence directive

Negotiations are continuing,…

Antoine Piel

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