brief INSIGHT by ShareAction
During yesterday’s COREPER meeting, EU Ambassadors did not give their approval to the passage of the Corporate Sustainability Due Diligence Directive (CSDDD).
“It is disappointing that yet again EU member states have failed to give the green light to legislation that would ensure business is better aligned with the needs of society and the environment. Every minute of delay increases the risk to workers’ lives and threatens fragile ecosystems.
“Those who blocked this legislation today have shown indifference to exploitation of workers and environmental degradation. They let internal political struggles take priority over the well-being of the planet and its people, which is unacceptable. The global community is watching, and the EU’s credibility and leadership is on the line.”
“It’s now a race against time for the Belgian Presidency to work with EU leaders to end the impasse and find a way to ensure that this crucial legislation is approved.”
-Isabella Ritter, EU Policy Officer at ShareAction
Following today’s failure, the Belgian Presidency will initiate discussions with the European Parliament to find a compromise that can be supported by EU member states. ShareAction is calling on EU member states to transcend internal political struggles, prioritise the best interests of people and planet and show a resolute commitment to the values that define the European Union.
| All opinions expressed are those of the author and/or quoted sources. investESG.eu is an independent and neutral platform dedicated to generating debate around ESG investing topics.
