What does the proposed European Corporate Sustainability Due Diligence Directive mean for non-EU actors?
The webinar was held on 22 April 2022, 3:30 - 4:30 PM (UTC +1). A recording of the conference call is available below.
The European Union has taken steps to address unsustainable business practices through a range of regulatory initiatives which, in different ways, seek to address the impacts that businesses have on the enjoyment of human rights, including, in particular, their operations outside the EU and throughout global value chains.
Key among these initiatives is the proposed Corporate Sustainability Due Diligence Directive (the CSDD), which sets an ambitious goal of transforming corporate behaviour and encouraging a sustainable future by requiring both EU and non-EU companies to identify and address human rights, environmental and climate change impacts in their global value chains. This is complemented by reforms to the Corporate Sustainability Reporting Directive (CSRD), which will set out disclosure obligations on companies with respect to these impacts and on a company’s due diligence processes.
How companies headquartered or having large operations in EU countries are obliged to manage and report on their human rights impacts is critical to further respect of human rights in global value chains, but it is not only EU companies which will be affected. Legislative developments mandating the exercise of due diligence in the EU, if well-crafted, could have positive impacts on the enjoyment of human rights by workers, communities, consumers and end-users across the value chain. Such regulation needs to be smart and complementary to existing and forthcoming policies and legislation including those mandating human rights due diligence and promoting sustainable finance.
It is important that views from stakeholders outside of the EU on the design and expected impact of the CSDD are communicated to the European Commission to ensure that the proposal is capable of achieving its objective.
This webinar will provide an overview of the various legal and regulatory developments of relevance to business and human rights. In particular, it aims to provide national human rights institutions, civil society actors and rightsholders with an introduction to the CSDD to enable participants to give feedback on the proposal to the European Commission through an open consultation process (deadline 23 May 2022).
Recording of the webinar
Program:
- Introductory remarks, Elin Wrzoncki, Department Director, Human Rights and Business Department, DIHR (5mins)
- Presentation on EU regulatory developments and the CSDD: Gabrielle Holly, Senior Adviser, Human Rights and Business Department, DIHR (20mins)
- Presentation on CSRD: Tabitha Bailey, Global Reporting Initiative (10mins)
- Q&A/Discussion (20mins)
- Wrap up/next steps (5mins)