The Party of European Socialists (PES) welcomes the approval by the Council of the interinstitutional agreement on the Corporate Sustainability Due Diligence Directive reached by the Belgian Presidency.
PES President Stefan Löfven said:
“Companies will be finally held accountable for environmental and social conditions throughout the supply chains. For socialists and democrats, people and the planet will always take precedence over economic interests.”
“With this directive, companies will be required to identify, cease, prevent, mitigate the adverse impacts on human rights and the environment. This will allow to level the global playing field for European industries playing by the rules and in line with our public objectives, benefitting consumers.”
“I particularly congratulate Belgian Deputy Prime Minister Pierre-Yves Dermagne (PS, Belgium) for his efforts in concluding the difficult negotiations, as well as the European Parliament rapporteur MEP Lara Wolters (PvdA, Netherlands) for securing access to justice for victims in this Directive. Following up on its implementation will be critical.”
Fostering responsible business conduct is a long-standing demand for progressives, as we believe social rights for citizens must take priority over economic freedoms for big corporations. The resolution adopted by the PES Congress in November 2023 in Málaga called for an ambitious Corporate Sustainability Due Diligence Directive to make European companies accountable for the social, human rights and environmental conditions throughout their value chains. Together with the Forced Labour Regulation, adopted on Wednesday, socialists and social democrats have equipped the EU with additional legislative tools to promote social and environmental progress worldwide.
