On 16th December 2021, ahead of the expected proposal of mandatory due-diligence legislations as one of the Sustainable Corporate Governance Initiative, 14 industry associations/ responsible business initiatives issued the statement to call for ensuring harmonisation and consistency across due diligence frameworks.
We stand behind the EU’s objective to ensure respect for human rights and the environment through an EU-harmonised regulatory approach to due diligence. Due diligence policies need to be well-designed and proportionate to foster the creation of a level-playing field, which is vital to drive collective standards and avoid EU internal market fragmentation.
However, the proliferation of due diligence policies, legal frameworks and regulations at sector, Member State, EU, and international levels risks diverting resources towards compliance, instead of promoting collective action to address negative human rights and environmental impacts. The EU can play a leading global role by requiring the same responsibility standards to access European markets (within limits of international trade regulations) for businesses domiciled within or outside Europe.
For more detail on the statement, please find the attachment.