New due diligence rules for large companies: more effective protection of human rights and environment
The Renew Europe Group in the European Parliament welcomes the adoption today in the Legal Affairs Committee of the Corporate sustainability due diligence bill that aims to ensure from large companies a more effective protection of the human rights and the environment.
As we mark 10 years after the collapse of the Rana Plaza factory in Bangladesh when 1134 workers, some of them children, died, we are determined to prevent any other appalling human rights violation across the global value chain. The new rules would require big companies to make sure they have done all they can to identify, lessen and end their negative impact on human rights and the environment, such as child labour, labour exploitation, pollution and biodiversity loss.
The due diligence directive, proposed by the Renew Europe Commissioner Didier Reynders, will help companies to better understand who is responsible for what on their value chains. The proposal will help firms avoid reputational risks. It may also encourage developing countries to take up human rights and environmental standards and increase standards of living.
MEP Adrián Vázquez Lázara (Ciudadanos, Spain) Renew Europe shadow rapporteur on the legislation, says:
“Today´s vote in the Committee on Legal Affairs is a significant milestone in the quest for a sustainable future. I am proud of the key role that Renew Europe has played in the last weeks and months of negotiations, ensuring that the text establishes ambitious obligations for companies to protect human rights and the environment without compromising their competitiveness. The liberal group has been able to work together in the seven committees involved in the negotiation and, as a result, has been instrumental in reaching a consensus between the left and right wings of the Parliament. The approval of this proposal sets the stage for a sustainable and responsible business culture that will benefit society and the planet in the long term”.