EU Has now Adopted

Agreement between European Council and Parliament regarding proposed Corporate Sustainability Due Diligence Directive
What it means for U.S.-based companies
https://kpmg.com/us/en/home/insights...directive.html
Home › Insights › Agreement between European Council and Parliament regarding proposed Corporate Sustainability Due Diligence Directive
Article Posted dateDecember 15, 2023

The European Council and Parliament on December 14, 2023, reached a provisional agreement regarding the proposed Corporate Sustainability Due Diligence Directive (CS3D), which sets new EU-wide standards for addressing negative business impacts on human rights and the environment. While these new binding rules are expected to be adopted in the European Union (EU), many U.S.-based multinational companies will feel the impact of this regulation within the next five years.

Following negotiations over many months, the final outline of CS3D includes requirements for companies to routinely identify, monitor, mitigate, and remediate risks to people and to the environment in their own operations, throughout their supply chain, and at various upstream and downstream points in their value chain. Penalties and civil liability are included for companies who fail to meet obligations laid out in the directive, and it also provides an avenue for victims to hold companies liable before EU courts if they are harmed through companies’ operations.

These new due diligence rules are substantially aligned with international standards like the UN’s Guiding Principles on Business & Human Rights (UNGPs) and the OECD’s Guidelines for Multinational Enterprises, and they raise the bar for corporate sustainability due diligence.

Read the EC release


https://commission.europa.eu/busines...e-diligence_en

Corporate sustainability due diligence
Fostering sustainable and responsible corporate behaviour for a just transition towards a sustainable economy.

On 25 July 2024, the Directive on corporate sustainability due diligence (Directive 2024/1760) entered into force. The aim of this Directive is to foster sustainable and responsible corporate behaviour in companies’ operations and across their global value chains. The new rules will ensure that companies in scope identify and address adverse human rights and environmental impacts of their actions inside and outside Europe.




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As mentioned elsewhere, this type of thing shows how these globalist, new world odor, laws do NOT have be ratified by congress in the U.S. to have impact here.