Position paper - Joint trade association statement: Towards EU due diligence that works for all

The European Green Deal is now moving into the implementation and transposition phases which present significant complexity and therefore uncertainty. The Corporate Sustainability Due Diligence Directive (“CS3D”), undoubtedly the flagship legislation adopted under the Green Deal, is particularly ambitious in terms of its scope thereby creating challenging and impactful new obligations for businesses with global value chains and in some instances rife unintended repercussions for the real economy in the EU and in third countries.

As Mario Draghi rightly notes, Europe’s ambitious climate targets need to be matched by a coherent plan for competitiveness. Joint efforts will be required to help position Europe as more competitive and innovative on the global stage and build a prosperous economy for all European citizens, while ensuring that sustainability principles are respected.