More transparency to protect our rights and our planet
Today, Members of the European Parliament adopted the Directive on Corporate Sustainability Reporting (CSRD) that will require European companies and companies operating in the EU to publish an annual report assessing their corporate and social responsibility.
The directive will apply to large companies, and will enable the public and authorities to measure the impact of their activities on the environment, social inclusion and human rights and the fight against corruption. The Greens/EFA Group have negotiated substantial improvements to the directive, especially with regards to climate responsibility. The directive includes a review clause that will allow for the spectrum of companies covered to be broadened.
Kira Marie Peter-Hansen, Greens/EFA MEP and European Parliament rapporteur for the Directive on Corporate Sustainability Reporting (CSRD) for the Employment and Social Affairs Committee, comments:
“The adoption of this directive is an important step. Large companies, among them the most polluting ones, such as oil and gas companies, and cement companies, will be obliged to publish their climate trajectory and plans to reduce their absolute greenhouse gas emissions. This is a victory in the fight against climate change.
“Sustainable corporate governance is absolutely necessary to ensure workers’ rights, diversity, and gender equality in the workplace. This should of course be done in coherence with, and support of, environmental needs and with the important involvement of trade unions and civil society organisations. With this deal, we have strengthened transparency as a key instrument to safeguard the rights and interests of workers and society.
"But we must go further. As it stands, this legislation does not protect us from the greenwashing of big businesses. This is due to the Council opposing the application of sanctions in case of non-compliance with the regulation and, on a too wide margin of interpretation of the obliged information subject to publication.”