On December 14, 2023, the Council of the European Union and the European Parliament reached a provisional political agreement on the Corporate Sustainability Due Diligence Directive (CSDDD) in the course of trilogue negotiations. The provisional political agreement will be formally adopted by the Parliament and Council in the coming weeks.
The European Supply Chain Directive will initially affect EU companies with more than 500 employees and a global net annual turnover of at least 150 million euros, as well as companies in certain sectors. Three years after the directive comes into force, large third-country companies with net sales of at least 300 million euros in the European Union will be included. The CSDDD obliges companies to comply with human rights and environmental standards along their global value chain.
Further information can be found in the press release of the European Council and the press release of the European Parliament.