Here's a breakdown of the key aspects:
Goal: Promote sustainable and responsible business practices throughout a company's global value chain.
Focus Areas:
Human Rights: Preventing human rights abuses throughout the supply chain.
Environment: Mitigating negative environmental impacts of a company's operations.
Due Diligence: Companies will be required to:
Identify potential human rights and environmental risks
Take steps to address and prevent these risks
Report on their efforts and outcomes
Current Status:
Proposal Stage: The CSDDD is still under negotiation by EU member states.
Implementation Timeline: The exact timeline is uncertain, but enforcement likely won't begin before 2025. Some EU countries already have similar national laws in place.
Overall, the CSDDD aims to create a more transparent and sustainable business environment in the EU.
