The European Commission concluded its consultation on Sustainable Corporate Governance on 8 February 2021.
In our consultation response, we underline the importance of EU-wide mandatory sustainability due diligence. This as a core element of the risk management a corporate board should undertake to promote the interests of the company in a way that secures sustainable value creation within planetary boundaries. Mandatory sustainability due diligence must encompass the full value chains of all European undertakings and cover environmental, social and governance issues, drawing on a research-based concept of sustainability. This is crucial to give European business a level playing field and legal certainty and to ensure the contribution of business to a sustainable future.
Read the full consultation response (from page 11 onwards) from the Research Group Companies, Markets and Sustainability, by Professor Jukka Mähönen.