- Competitive industry
- EP’s position on Due Diligence will strongly affect global competitiveness of EU companies
On 25 April 2023, the JURI committee of the European Parliament adopted its report on the Corporate Due Diligence Directive.
On 25 April 2023, the JURI committee of the European Parliament adopted its report on the Corporate Due Diligence Directive. Ceemet strongly regrets the EP’s position as the report as adopted will strongly affect global competitiveness of EU companies.
The Directive will cause an overwhelming amount of new financial and administrative burden on companies. The proposed due diligence requirements are not workable in practice, even for the largest companies but especially not for SMEs. Moreover, the necessity to carry out due diligence for the entire value chain, both upstream and downstream, is unworkable. On a slightly positive note, Ceemet appreciates the insertion of the Single Market clause which avoids EU companies having to comply with 27 different national due diligence legislations, yet strongly calls for a legally binding solution. Indeed, the fragmentation of the Single Market would have a disastrous impact on the global competitiveness of EU companies.
Ceemet calls on the European Parliament to consider the strong negative impact that this legislation will have on companies and allow sensible amendments in this respect to be proposed in plenary.
Ceemet strongly regrets the EP’s position :
On 26 April 2023, Ceemet reiterated its positions during the European Forum for Manufacturing Roundtable on Corporate Sustainability Due Diligence, in the presence of Zsofia Kerecsen, Team Leader Corporate Governance Team, DG JUST of the EU Commission.
Delphine Rudelli, Director General of Ceemet, reminded the policymakers that “political measures should be workable in practice and fit to purpose to ensure the EU competitiveness in a global trade environment.”