Frank Bold news

In response to demands from investors and companies, the European Commission presented a proposal for a Corporate Sustainability Due Diligence Directive (CSDDD) in February 2022. The Directive is also a response to France, Germany and Norway adopting legislation on due diligence and attempts to harmonize and introduce one European standard of responsible business conduct.

After several months of delay, today, the European Commission presented its proposal for a Corporate Sustainability Due Diligence Directive in Brussels. The main objective of this new legislation is to integrate into European law international standards such as the UN Guiding Principles on Business and Human Rights - adopted globally over a decade ago - and standards developed and approved by the OECD.

What is the content of sustainability due diligence standards, how can companies effectively implement due diligence, and what challenges and benefits does it bring to businesses? These and other questions were answered by speakers at the webinar organised by Frank Bold.

On 23 February 2022, the European Commission released its proposal for a directive on Corporate Sustainability Due Diligence. This directive could represent a landmark step forward in minimising the negative impacts of businesses on workers, communities and the environment worldwide. In response, over 220 NGOs and trade unions from around the world welcome the proposal as an essential and long-awaited step toward corporate accountability, responsible business conduct and access to justice.

Due diligence is a precondition for the sustainable activities as defined by the EU Taxonomy and green financing under the Sustainable Finance Disclosure Regulation, including green bonds. Particular ESG due diligence requirements will be regulated by the forthcoming Sustainable Corporate Governance Directive. To help companies better understand its scope and to clarify its requirements, Frank Bold is hosting a webinar. It will feature international experts from companies such as Ericsson and outdoor clothing manufacturer Vaude. We invite you to join us on 26 January at 10 am CET.

The respect of human rights is the most fundamental value that we have as a society. Nevertheless, economic globalisation has lead to the massive exploitation of human rights in developing countries for the benefit of multinational enterprises (MNEs). The outsourcing and offshoring of production and services have had huge environmental and social costs.