Eurosif welcomes European Parliament vote on CSDDD

24 April 2024

Eurosif welcomes the final vote on the Corporate Sustainability Due Diligence Directive (CSDDD) by the European Parliament.

While Eurosif regrets that the ambition of the final text has been reduced to include late-stage additional concessions pushed by certain EU Member States, this adoption remains a significant landmark in the delivery of the EU’s sustainability objectives. The CSDDD provides a much-needed uniform European due diligence framework, which was called for by a wide range of stakeholders including sustainable investors, businesses and civil society.

Aleksandra Palinska, Executive Director of Eurosif said:
“Today’s adoption of the revised text on the Corporate Sustainability Due Diligence Directive by the European Parliament is a major political breakthrough and an important step forward in terms of fostering responsible business conduct and in accelerating a just transition to a sustainable economy. However, we do regret the last minute changes which reduced the ambition of the Directive, including significant limitation of the scope, a complete removal of the provision on financial incentives for the promotion of transition plan implementation, and a lengthy phase-in period. On a positive note, we welcome the fact that the provisions on transition plans have been retained, which is key to accelerating a just transition to a net-zero economy. It is essential that this Directive is now formally adopted by the EU member states before the European elections.”

Eurosif now calls on the Council of the EU to swiftly adopt the revised final text and for EU Member States to effectively implement this law in their respective jurisdictions.

Read the full press release below.