Dáil Éireann Debate, Tuesday - 29 November 2022
143. Deputy Cathal Crowe asked the Tánaiste and Minister for Enterprise, Trade and Employment Ireland's position on the proposed new EU Corporate Sustainability Due Diligence directive (details supplied); and if he will make a statement on the matter. [58692/22]
View answerA proposal for a Directive on Corporate Sustainability Due Diligence (CSDD) was published by the European Commission on 23rd February 2022 and addresses corporate behaviour and due diligence processes for the companies within its scope. The proposal focuses on establishing a system within company law and corporate governance to address adverse human rights and environmental impacts arising from companies' own operations, their subsidiaries' operations, and their chain of activities. The proposal will apply to companies across all sectors of the economy, including regulated financial undertakings in the financial sector.
Discussions have been ongoing since March at EU Working Party level. Following on from intensive negotiations over the last number of weeks, culminating in a COREPER meeting of EU ambassadors on Friday 25th November, the Czech Presidency has indicated the intention to bring the file to the forthcoming Competitiveness Council on 1st December in order to agree on a general approach.
Ireland has been supportive of the objective of the proposed Directive. An EU-wide framework is best placed to both support the functioning of the single market and to influence respect for human rights and the environment beyond the EU. Ireland has been working to ensure that the proposal has ambition while striking the right balance of providing effective protections for stakeholders whilst ensuring that the measures to be implemented by companies are clear, proportionate, and enforceable.
The proposal will promote responsible business conduct by companies and has the potential to be far-reaching and could be built upon over time. Subject to agreement on a general approach at the Competitiveness Council, the proposal will then move to trilogue discussions involving the Council, the European Commission, and the European Parliament. I look forward to a successful conclusion to this process and a final Directive being agreed at an early date.
