Executive Summary
The position paper addresses the complexities and uncertainties of implementing the Corporate Sustainability Due Diligence Directive (CS3D) under the European Green Deal. It highlights the significant new obligations for businesses with global value chains and the potential unintended repercussions for the EU and third countries. The paper calls for administrative burden relief and simplification to support competitiveness, particularly for SMEs. It stresses the need for early business involvement in drafting implementing legislation and guidelines to ensure practical compliance.
Key Takeaways:
- Launch a comprehensive competitiveness assessment of the CS3D to identify priority areas for simplification and burden reduction.
- Adopt guidelines and implementing legislation at least two years before compliance becomes mandatory or extend the transition period.
- Ensure harmonisation and interoperability of rules to support Europe鈥檚 competitiveness and maintain a well-functioning Single Market.