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31 March 2022
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Mandatory Human Rights And Environmental Due Diligence Proposal Published For Corporates

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William Fry

Contributor

William Fry is a leading full-service Irish law firm with over 310 legal and tax professionals and 460 staff. The firm's client-focused service combines technical excellence with commercial awareness and a practical, constructive approach to business issues. The firm advices leading domestic and international corporations, financial institutions and government organisations. It regularly acts on complex, multi-jurisdictional transactions and commercial disputes.
The EU plan to introduce a mandatory human rights and environmental due diligence framework for corporates was substantially progressed on 23 February 2022.
European Union Corporate/Commercial Law

The EU plan to introduce a mandatory human rights and environmental due diligence framework for corporates was substantially progressed on 23 February 2022, with the publication of a legislative proposal setting out highly impactful corporate and director due diligence duties.

The creation of an EU legal framework for due diligence is likely to yield greater harmonisation in a largely non-homogenous area; giving companies legal certainty and ensuring a level playing field within the EU.  However, the costs, potential competitive disadvantages and challenges for EU companies investing in third countries with weak human rights and environmental protections represent real and substantive compliance hurdles for in-scope companies. 

Check out our factsheet on the proposed EU corporate sustainability due diligence legislation and get in touch with any of the ESG & Sustainability Practice Group, or your usual William Fry contact with any related queries or requests.

Click here to read the document.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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