ESG & Supply Chains in Europe - The New EU Due Diligence Duty

Introduction

After heated debates and negotiations, the EU Corporate Sustainability Due Diligence Directive (“CSDDD”) got finally adopted in May and entered into force in July 2024.

The CSDDD applies to certain large companies (including certain non-EU companies) but also, indirectly, to companies that are part of an in-scope company’s chain activities. It will gradually apply to companies in scope, starting at the end of July 2027 with the largest companies, and with the last wave of companies having to comply as of end of July 2029.

Amongst other responsibilities, the CSDDD includes a new due diligence duty to be integrated into corporate policies. This requires companies to identify, prevent, mitigate, minimise and end adverse human rights and environmental impacts in their own operations and in their subsidiaries, also extending to their supply chains and certain business practices downstream.

The CSDDD has wide-ranging consequences as regards both fines (with maximum penalty under the implementing EU member state law having to be at least 5% of the relevant company's net worldwide turnover in the previous financial year) as well as the facilitation of (collective) damages claims.

While there is still some time until companies will have to comply with the duties under the CSDD, now is the time to identify and manage relevant risks, to think about relevant policies and to start putting a compliance system in place to ensure that your company is best placed to manage compliance when member state laws come into force.

Do not miss the opportunity to familiarise yourself with the CSDDD and what impact it will have on your business, whether you are directly or indirectly in scope.

What You Will Learn

This live and interactive course will cover the following:

• Brief background to the EU Corporate Sustainability Due Diligence Directive
• Who is covered and when?
• What is covered?
• Overview of general due diligence duties
• The need for transition plans
• Consequences when getting it wrong
• Latest developments and outlook

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.