Aleksandra Palinska’s Post

📢 This Wednesday, 24 April, the European Parliament will vote in Plenary session on the Corporate Sustainability Due Diligence Directive (#CSDDD). 🤝 Eurosif calls on Members of the European Parliament to maintain their support for the CSDDD during this Plenary vote. 🌱 This Directive is essential to accelerating a just transition to a sustainable economy and to supporting companies in identifying and bringing to an end their negative impacts on #HumanRights and the #environment. 🌍 This text also requires companies under scope to adopt and put into effect transition plans including climate targets, in line with the requirements of the Corporate Sustainability Reporting Directive (#CSRD). 💡 The CSDDD gathered broad support from many companies across the EU - among them some of the largest in the world – but also from business associations, sustainable investors organisations, trade unions and civil society.   📖 Some useful resources:   📄 Statements in support of CSDDD: ➡️ Joint Eurosif, Principles for Responsible Investment, Institutional Investors Group on Climate Change (IIGCC), Investor Alliance for Human Rights, Interfaith Center on Corporate Responsibility (ICCR) public statement: https://lnkd.in/eUi8hdFf  ➡️ Forum per la Finanza Sostenibile (ItaSIF) statement: https://lnkd.in/dcTF4paY  ➡️ Forum Nachhaltige Geldanlagen e.V. (Germany) statement: https://lnkd.in/ecuQ5mTx  ➡️ Statement by a coalition of Italian businesses: https://lnkd.in/eWHq5AVM  ➡️ Statement by Italian Confederation of Craft Trades and SMEs: https://lnkd.in/dEVdzysV  ➡️ Statement by a coalition of German businesses: https://lnkd.in/ePgq_HKY  ➡️ Statement by a coalition of Nordic businesses: https://lnkd.in/eiA5hQyJ  ➡️ Statement by the Finnish Business and Society (FIBS): https://lnkd.in/e63yhbX6  ➡️ Statement by the coalition Business for a Better Tomorrow: https://shorturl.at/duwC5 ➡️ Multistakeholder Statement by business associations, companies, trade unions and civil society organisations: https://lnkd.in/edVxK9xK 🔎 Short overviews by @Frank Bold explaining what CSDDD means for #CorporateReporting: ➡️ Links between CSRD and CSDDD: https://lnkd.in/eYc5899S ➡️ Similarities and differences between CSRD and CSDDD regarding value chain coverage: https://lnkd.in/eYc5899S

Eurosif - The European Sustainable Investment Forum is calling on EU policy makers, in particular the Members States, to uphold the political agreement from December 2023 on the Corporate Sustainability Due Diligence Directive #CSDDD.   This is one of the most crucial pieces of EU regulation needed to accelerate a #just #transition to a sustainable economy. It would be a great shame if the years of work of everyone involved were lost due to last-minute political maneuvering.

📢 Responsible investors and businesses support the adoption of the Corporate Sustainability Due Diligence Directive (#CSDDD). Ahead of the discussion scheduled during the COREPER meeting tomorrow, Eurosif highlights the widely shared consensus in support of the CSDDD across the responsible investor and business communities, as reflected in the statements below. The CSDDD is crucial for establishing rules to ensure large EU companies perform risk-based environmental and human rights #DueDiligence through value chain. This boils down to preventing, mitigating and addressing serious harm on people and the planet. Its adoption is also essential to accelerate a #justtransition to a sustainable economy given the provisions for in-scope companies to adopt and put into effect transition plans including climate targets. The political agreement on this text, reached between EU institutions in December 2023, is proportionate and workable in practice for all companies in scope, including for financial institutions. If adopted, it will provide EU businesses with a clear and consistent sustainability due diligence framework across Europe. However, the formal adoption of this Directive by EU member states faces strong headwinds and has been postponed by several weeks.  Eurosif calls on the EU Member States to uphold their political commitment from December 2023 and adopt the CSDDD. This is essential to the future of the EU Green Deal and for European businesses’ competitiveness, security, and resilience. 📄Statements in support of CSDDD: ➡️ Joint Eurosif, Principles for Responsible Investment, Institutional Investors Group on Climate Change (IIGCC), Investor Alliance for Human Rights, Interfaith Center on Corporate Responsibility (ICCR) public statement: https://lnkd.in/eUi8hdFf  ➡️ Forum per la Finanza Sostenibile (ItaSIF) statement: https://lnkd.in/dcTF4paY  ➡️ Forum Nachhaltige Geldanlagen e.V. (Germany) statement: https://lnkd.in/ecuQ5mTx  ➡️ Statement by a coalition of Italian businesses: https://lnkd.in/eWHq5AVM  ➡️ Statement by Italian Confederation of Craft Trades and SMEs: https://lnkd.in/dEVdzysV  ➡️ Statement by a coalition of German businesses: https://lnkd.in/ePgq_HKY  ➡️ Statement by a coalition of Nordic businesses: https://lnkd.in/eiA5hQyJ  ➡️ Statement by the Finnish Business and Society (FIBS): https://lnkd.in/e63yhbX6  ➡️ Statement by the coalition Business for a Better Tomorrow: https://shorturl.at/duwC5

❌Today EU member states failed to agree on the final compromise text for the Corporate Sustainability Due Diligence Directive (CSDDD).   ⌛ This is disappointing because time is running out to pass this important legislation before the end of the EU legislative cycle.   💡 Our recent FAQ, co-authored with Eurosif - The European Sustainable Investment Forum and Principles for Responsible Investment, explains why CSDDD should be seen as an opportunity, not a threat.   💚 CSDDD is vital for creating a level playing field for sustainability due diligence across the EU and strengthening its framework for Paris-aligned transition plans.    🤝We urge EU member states to return to the table, come to an agreement, and ensure that this important legislation is passed before the EU elections. Find out more about CSDDD below ⤵   #CSDDD #SustainableFinance #EUPolicy

📢 Today, the European Parliament adopted the Corporate Sustainability Due Diligence Directive (#CSDDD) in Plenary session. This is a significant win and a breakthrough in accelerating a #just transition to a sustainable economy. 🌱 While Eurosif regrets that the ambition of this 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. 🤝 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 Eurosif’s press release welcoming the adoption of the CSDDD here: https://lnkd.in/eMR4jQVU

🕚 Slowly but surely it seems like this long process is coming to a positive conclusion. It is not yet over, but it may be time for companies to start looking at what the actual implementation might look like, and for many companies, how it could affect them in spinoff ways, through their value chains and partnerships. #CSDDD #CS3D

Ahead of what are anticipated to be the final trilogue discussions of the year on the Corporate Sustainability Due Diligence Directive (CSDDD), Institutional Investors Group on Climate Change (IIGCC), together with Eurosif - The European Sustainable Investment Forum and Principles for Responsible Investment, has just published a short Q&A that seeks to provide clarity on key discussion topics and highlight ways forward to ensure the CSDDD is both ambitious and workable in practice. The CSDDD can help to plug the gaps in the EU’s regulatory framework by complementing transparency and disclosure with requirements to take action to support the transition of the real economy. It can also address the piecemeal approach to due diligence within existing legislation and create a level playing field in the EU, setting a high standard globally. Fingers crossed for a positive outcome on Wednesday.

The Belgian Presidency has decided to postpone the Corporate Sustainability Due Diligence Directive (CSDDD) vote in the Council of the EU today (9 February), following Germany’s announcement of abstention and the need for further discussions among EU Member States. Author: Michael N. Read more on ESG Clarity EU: https://lnkd.in/eWq_n5fy #csddd #corporatesustainability #germany #italy

Did you know that In the EU the CSRD will soon require almost 50,000 companies to report on sustainability matters? Here some main point to undertand what's coming Nearly 50,000 companies, including both large undertakings and SMEs that are public interest entities. This includes: -Companies with a balance sheet total over €20 million, net turnover more than €40 million, or more than 250 employees. -Public Interest Entities, Includes companies listed on EU stock exchanges, certain financial institutions, and those designated by national authorities. Reporting Start Dates: From January 1, 2024, for companies currently under non-financial reporting obligations. From January 1, 2025, for other large companies not previously subject to reporting. The new process is aimed to enhance transparency on the environmental and social impacts of business activities, promoting sustainable practices across a wide array of enterprises within the EU. This directive represents a significant expansion in the reporting requirements, aiming to foster a more sustainable and transparent corporate environment in Europe. #EU #CSRD #sustainability #reporting #environmental #social #governance #regulations #business #corporatesocialresponsibility #ESG #compliance #sustainablefuture #CSRcommitment

The Corporate Sustainability Due Diligence Directive (#CSDDD) is at a critical juncture with the final political trilogue taking place tomorrow. 🔍 The focus of the discussion will be on the inclusion of the financial sector in the law, a decision that could either reinforce or jeopardize the EU’s sustainability commitments. 🤝 This trilogue, involving the Parliament, EU Member States, and the Commission, will determine the fate of due diligence obligations for financiers and the form they will take. The outcome hangs in the balance, as the EU negotiators are getting to the discussion table with opposing positions regarding the financial sector inclusion. 🚨Excluding the financial sector from the CSDDD would mean turning a blind eye to the huge impact financial institutions have on both people and the planet. If let off the hook, financiers will not need to consider the impact of the harmful activities. With financial institutions in the EU holding almost four times more financial assets than non-financial companies, such a curve-out would also create an uneven playing field between financial and real economy players. 📣At ShareAction, we urge EU policymakers to seize this final chance and establish a framework that prevents and mitigates corporate-caused environmental and social harm. It's crucial for the EU to lead the way, ensuring that the financial sector plays its part in building a more sustainable future. Read more about the state of play of the ongoing negotiations: https://lnkd.in/ewzH2u3V