A new legal briefing by Frank Bold unpacks the new restrictions on information requests to business suppliers following the Omnibus 1 revisions to the CSRD and CSDDD, and explains the practical implications for companies.
As part of the sustainability reporting and due diligence requirements under the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD), companies need to request sustainability-related information from their value chain partners.
The Omnibus 1 Directive introduced restrictions on how and when such information requests can be made in order to protect suppliers from disproportionate requests. These consist of the value chain cap under the CSRD and the limits on information requests under the CSDDD. For companies in scope of these directives, it is important to understand the new restrictions.
The publication also points to legal uncertainties resulting from the European Commission’s proposed Voluntary Standard when it comes to due diligence scoping, GHG data and climate risk information and proposes practical steps for companies to preserve effective supply chain management while remaining fully compliant with the caps.
If you have any questions about the briefing, please get in contact with Senior Policy Officer Julia Otten at julia.otten@frankbold.org.
Frank Bold Society and the Neighbourhood Association Uhelná have drawn up a document with seven basic requirements that the Czech side should insist on when negotiating with Poland. See the press release for background information.
In the face of recent opposition addressed to the EU Commission by some business associations and specific governments from Nordic Europe, NGOs have reiterated their support for the European Commission commitment to present an initiative on Sustainable Corporate Governance in 2021, following the roadmap set in the EU Green Deal and the Action Plan on Sustainable Finance.
As part of the reform of the EU Non-Financial Reporting Directive, the European Commission plans to develop mandatory EU sustainability reporting standards. The analysis of the non-financial reports of 1000 European companies by the Alliance for Corporate Transparency has proven how companies fail to report relevant, specific and comparable information. While this is true for all sustainability matters, it is particularly exacerbated in the case of corporate impacts and risks along the supply chain.
