ClientEarth and Frank Bold bring you their ultimate legal CS3D analysis. It unpacks every single environmental element of the directive and can be used by national governments to unlock its potential in the next two years.
The recently adopted Corporate Sustainability Due Diligence Directive (CS3D) is the first cross-sectoral legislation requiring large companies operating in the EU market to identify, prevent, and address adverse impacts on human rights and the environment. This includes impacts throughout their own operations, those of their subsidiaries, and their business partners in their value chains. Companies must also implement a climate change mitigation transition plan to align their business model and strategy with the transition to a sustainable economy and the goal of limiting global warming to 1.5°C.
Furthermore, companies must externally communicate relevant information about their due diligence policies, processes, and activities, including findings and outcomes. For most companies subject to the CS3D, this reporting obligation is addressed by the Corporate Sustainability Reporting Directive (CSRD), which amended the Accounting Directive to require the disclosure of sustainability information.
This guide aims at encouraging ambitious and robust transposition, implementation and enforcement of the CS3D by:
On September 24, we will hold a webinar presenting the key findings and recommendations of the analysis, specifically on the environmental scope of the CS3D as well as climate transition plans.
We will also bring together sustainability experts and business to discuss the potential challenges ahead and the best practices linked to the implementation of Environmental Due Diligence.
Look forward to hearing from:
New reporting rules require certain large EU companies to include in their management report a non-financial statement. These companies need to begin gathering and auditing information in order to be prepared to publish the required information within good time after the end of the 2017 financial year. Frank Bold recently published a short guide on the Non Financial Reporting Directive that identifies who will be affected and explains how to comply with the new reporting requirements.
On September 28, Frank Bold will hold the Creating Sustainable Companies Summit gathering leading thinkers, businesses, policymakers and civil society in Brussels to chart the way to the next generation of corporations and future of corporate governance.
The Brussels office of the public interest law firm Frank Bold is currently recruiting a Legal Research Intern to start immediately full-time, for a period of two months, with the possibility of a four-month extension.
