The story so far
The European Commission included in its work plan for 2021 the Sustainable Corporate Governance initiative. This “aims to improve the EU regulatory framework on company law and corporate governance. It would enable companies to focus on long-term sustainable value creation rather than short-term benefits. It aims to better align the interests of companies, their shareholders, managers, stakeholders and society. It would help companies to better manage sustainability-related matters in their own operations and value chains as regards social and human rights, climate change, environment, etc.”
This is the road map of its progress to date:
October 2020:
EU Parliament exhorts the European Commission to extend “Directors’ duty of care and additional measures to make corporate governance more sustainability-oriented”
November 2020:
EU Commission opens up a consultation on Corporate Sustainability Due Diligence (CSDD)
February 2021:
B Lab Europe and The Good Lobby led a process to submit a collective response to the consultation.
EU Commission produced a summary report on responses from the Consultation (downloadable here under “Contributions to the Consultation”)
June 2021:
Interdependence Coalition is launched
February 2022:
The European Commission publishes its proposal on Sustainable Corporate Governance.
May 2022:
The Interdependence Coalition submits its official response to the EU. Read more here.
November 2022:
European Council of member states publishes its general position in response to the Draft CSDDD.
December 2022:
European Parliament Committee on Legal Affairs (JURI) publishes its Draft Report on CSDDD ahead of its vote.
February 2023:
The Interdependence Coalition makes a case for Art. 25. Support us by signing this petition.
March 2023:
Expected JURI vote.
May 2023:
Expected European Parliament Plenary vote on CSDDD.
June 2023:
Trilogue begins.