The Corporate Sustainability Due Diligence Directive is finally adopted!
On May 17th 2024 Enact held a webinar where we did a walkthrough of the essentials of the CSDDD, covering the topics below:
Who: EU-companies employing more than 1,000 employees and having global turnover over 450MEUR and non-EU-companies with turnover over 450 MEUR in EUR
When: phase-ins based on company size, with all companies in scope having to comply by 2029
Which topics: internationally recognized human and labour rights as well as selected environmental impacts
Where: Chain of activities, own-operations incl. subsidiaries, upstream supply chain and downstream limited to transports, storage and distribution
What: establish and integrate due diligence policy, manage impact in own operations and chain of activities, remedy negative impacts and meaningfully engage and listen to stakeholders
How enforced: Both carrots and sticks, including fines up to 5 % of global net turnover in case of non-compliance and civil liability
The webinar was held by Sandra Atler, Director of Business and Human Rights Practice Group at Enact, and moderated by Ulla Roiha, Head of Enact Finland.
In case you missed the live webinar, you can watch the recording below:
If you have any questions related to CSDDD or if you need support with your due diligence work, don’t hesitate to reach out to either Sandra at sandra.atler@enact.fi or Ulla at ulla.roiha@enact.fi