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March 13, 2021 12:19:06 pm The European Parliament Wednesday adopted a legislative initiative report calling on the European Commission to create a “binding EU law that ensures companies are held accountable and liable when they harm or contribute to harming human rights, the environment, and good governance.” Despite the global nature of many European companies’ operations, there are currently no EU-wide laws requiring companies to have a mandatory EU system of due diligence in place for victims of human rights and environmental violations. Binding EU diligence rules would obligate companies to identify, address, and remedy aspects of their value chain (all operations, direct or indirect business relations, investment chains) that could or do infringe on human rights (including social, trade union, and labor rights), the environment (contributing to climate change or deforestation, for example) and good governance (such as corruption and bribery).

Lara woltersEuropean parliamentEuropean commissionEuropean parliamentary research serviceEuropean parliament wednesdayலாரா வால்டர்ஸ்ஐரோப்பிய பாராளுமன்றம்ஐரோப்பிய தரகுஐரோப்பிய பாராளுமன்றம் ஆராய்ச்சி சேவைஐரோப்பிய பாராளுமன்றம் புதன்கிழமை