EU cannot miss the biggest opportunity in a decade to advance responsible business

Edit: On March 15th Coreper supported an amended version of the EU Corporate Sustainability Due Diligence Directive (CSDDD). The following statement was published before this decision. See the news on the new development here.

EU-countries agree important law on corporate sustainability | The Danish Institute for Human Rights

Despite already reaching a political agreement in December last year,  the EU Corporate Sustainability Due Diligence Directive (CSDDD) did not secure a qualified majority of Member States in support at a Coreper meeting on February 28th . The Danish Institute for Human Rights considers this to be a missed opportunity to advance the development of smart policy and regulatory frameworks to regulate business respect for human rights. 
 
Over 10 years after the adoption of the UN Guiding Principles on Business and Human Rights (UNGPs), experience have shown that soft law standards are not enough to drive business respect for human rights. The CSDDD is a key initiative capable of harnessing the transformative potential of the UNGPs through the creation of a legal framework across the EU mandating human rights and environmental due diligence. 
 
The Institute calls on European legislators to come to an agreement and ensure that this initiative does not fail.

“The trajectory towards the adoption of mandatory human rights due diligence measures is clear. We are seeing proposals for laws in Chile, Colombia, South Korea, as well as a range of other regulatory interventions seeking to promote responsible business conduct and respect for human rights around the world. This has been partly driven by the EU’s leadership on this issue. Business are calling for it. Investors are calling for it. They stand alongside calls from trade unions, National Human Rights Institutions, the UN, and civil society," Elin Wrzoncki, Department Director, Human Rights, Business & Tech, Danish Institute for Human Rights, explains.

"EU legislators must act to ensure the adoption of the Corporate Sustainability Due Diligence Directive. This is a once in a generation initiative which will harmonise efforts to secure a future where businesses play their part in addressing the urgent human rights and environmental challenges we face globally.”