On the proposal for a directive of the European Parliament and of the Council amending Directives 2006/43/EC, 2013/34/EU, (EU) 2022/2464 and (EU) 2024/1760 as regards certain corporate sustainability reporting and due diligence requirements
ECON-AD-775624
Committee on Economic and Monetary Affairs · Rapporteur: Janusz Lewandowski
Written by a language model from the full text only; every figure comes from the text. The paragraph links open the paragraph a statement rests on — check the text itself before relying on it.
This committee opinion criticizes the proposal to amend corporate sustainability reporting and due diligence directives, calling it a regression in corporate accountability and protection of human rights and the environment.¶ It deplores the dismantling of core provisions, including thresholds of 5,000 employees and €450 million turnover, and sanctions capped at 5% of net profit, which could be zero for companies declaring no profit.¶¶ It also notes the absence of an updated impact assessment and argues the proposal ignores realities of forced labour and environmental destruction linked to EU-based multinationals.¶
Committee position. The committee opinion opposes the proposal, arguing it regresses on corporate accountability and fails to protect human rights and the environment.¶¶
Key points
- The opinion marks a profound regression in commitment to corporate accountability and protection of human rights and the environment throughout global value chains.¶
- It deplores the systematic dismantling of core provisions of the original directive, as seen in the Commission proposal and further compromises.¶
- It criticizes setting a threshold of 5,000 employees and €450 million in turnover, which would exclude many companies from due diligence obligations.
- It calls sanctions capped at 5% of net profit ridiculous, as they could be zero for companies that artificially declare no profit.¶
- It highlights the absence of an updated impact assessment and argues the proposal ignores forced labour, environmental destruction, and human rights violations linked to EU-based multinationals.¶
- It asserts the proposal fails those it was meant to protect and serves the interests of the most powerful, prioritizing corporate profits over lives and the planet.