Summary
The joint statement highlights the need for a balanced and proportionate framework that avoids legal uncertainty and fragmentation, which could hinder European companies’ ability to contribute to the sustainability transition. The statement calls for clear definitions, alignment with international standards, and practical guidance to ensure effective compliance. It also emphasises the importance of prioritising the most salient risks in value chains and avoiding overly prescriptive rules that could disrupt existing governance models.
Key takeaways:
- Need for the maximum degree of harmonisation to ensure a level playing-field
- Ensure balanced legal liability provisions, including on sanctions, following the principle of due diligence as an obligation of means
- Remove directors鈥� duties from the scope of the Directive