Insurance Europe supports the European Commission’s aim for a Corporate Sustainability Due Diligence (CSDD) Directive, including a requirement to adopt a transition plan. However, to achieve its important objectives, the legislation needs to incorporate realism, proportionality, and workability into the framework to enable businesses to apply the requirements to their value chains. This includes companies under the scope but also the SMEs that will be impacted.
In this crucial phase of the legislative process, the business community has put forward a number of recommendations and concerns to improve the corporate sustainability due diligence directive proposal. The cosignatories urge the European Parliament and the Council of the EU to take these recommendations and concerns into account in the following steps of the legislative process.
The joint statement can be found here.