Joint Statement calling for a robust and ambitious Corporate Sustainability Due Diligence Directive (CSDDD)

08 December 2022

Joint statement

Finance Watch, along with members of the Informal Group on Sustainable Finance calls for stronger requirements on transition plans, directors’ remuneration and oversight and due diligence for the financial sector in the CSDDD.

ShareAction, Accountancy Europe, Eurosif, Frank Bold, Finance Watch and WWF, as members of the Informal Group on Sustainable Finance, have released a joint statement on the EU’s Corporate Sustainability Due Diligence Directive (CSDDD).

In the statement, the civil society organisations and investor federations call on the EU co-legislators to strengthen certain crucial provisions and formulates 5 recommendations for the co-legislators upcoming compromise agreement on the Corporate Sustainability Due Diligence Directive (CSDDD) which will play a critical role in integrating environmental, climate and social risks in companies’ decision-making processes.

Strengthening these provisions (on topics such as directors’ oversight of due diligence and corporate sustainability strategy,  transition plans and targets to address sustainability risks, sustainability-related incentives and long-term perspective) and following the five key recommendations is the way forward to embed environmental, climate and social impacts into the company’s long-term strategy.

Read our statement in the PDF below: