Filip Gregor
Head of the Responsible Companies Team
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 webinar aims to clarify the content of due diligence standards and, based on good practice examples, explain how companies can effectively implement them. The event will be of particular interest to public administration, the business sector, banks, and investors. And mainly for the stakeholders from the Central and Eastern Europe.
1. Principles of due diligence, 10:00 - 11:00 AM
→ Legislation and expectations, Lucie Slavíková, Ministry of Justice, Czech Republic
→ UN and OECD due diligence standards and their application in practice, Rachel Davis, Shift
→ Implementation of the new German legislation and good practice, Susanne Gasde, Federal Ministry of Labour and Social Affairs, Germany
→ Case studies: what is considered as good and bad practice, Filip Gregor, Frank Bold
2. Experience of companies with practical application; Q&A 11:00 AM - 12:00 PM
→ Théo Jaekel, Corporate Responsibility Expert, Ericsson
→ Bettina Roth, Head of Quality Management & CSR Supply Chain, Vaude
→ Julien Lavarini, Responsible Supply Chain Manager, Lorenz
The European Commission is planning to publish its Sustainable Corporate Governance proposal and submit it to Parliament and Council in February 2022. A key element of this proposal should be rules on sustainability due diligence, based on the UN Guiding Principles on Business and Human Rights and OECD standards. In the context of the EU's sustainable finance strategy, due diligence is one of the pre-conditions for the sustainable activities as defined by the EU Taxonomy Regulation and green financing under the SFDR, including green bonds.
The proposal should clarify how companies should approach the identification and management of significant negative impacts on people and the planet related to their business model and value chains. Due diligence is a risk-oriented process. Its requirements are based on the company's position, its involvement in adverse impacts, and its ability to influence these impacts.
During this webinar, we will explain due diligence standards and companies will share their experience with the practical implementation of the German legislation and of the UN and OECD standards , including how their meaningful implementation supports better business governance.
The study on the sustainability disclosures of 100 influential companies from high-impact sectors provides an early reflection on the general readiness for businesses in the EU to meet the expectations of the upcoming EU sustainability rules and standards. Our report contributes to identifying the main challenges, as well as to highlight emerging good practices.
Thanks to legal support from the Frank Bold expert group, the Czech Neighborhood Association Uhelná, which has been opposing the adverse effects of mining at the Polish Turów mine, has achieved a significant milestone: at their initiative, the Czech Environmental Inspectorate (CEI) launched an investigation to assess whether mining activities at Turów are causing long-term water loss on the Czech side of the border. This is one of the first cases in which the Czech office has applied the Act on the Prevention of Ecological Damage. The Inspectorate has also included the Polish mining company PGE in the proceedings.
Join us for our upcoming webinar where we present the findings from our analysis of sustainability disclosures by 100 large EU companies in high-impact sectors.
