EU member states have agreed on the latest CSDDD

In addition to providing ESG Reporting Software to corporates such as Vodafone, PostNL, and more, Nossa Data has been providing thought leadership around regulatory changes, including implications from the CSRD / ESRS, IFRS, and previous versions of the CSDDD.

For an update as of today, after recent uncertainty, EU Member States have voted in favour of the Corporate Sustainability Due Diligence Directive (CSDDD).

The preliminary agreement on the law was reached last December after extensive negotiations between the European Commission, EU Council, and the European Parliament. However, in January, Germany's opposition led to delays, with France and Italy seeking last-minute changes, raising concerns about the law's scope.

The most significant concession concerned the threshold for companies covered by the Directive, raising it to 1000 employees and €450 million turnover, significantly reducing the number of affected companies.

Now, the focus shifts to implementing and building on the agreed-upon framework. The European Parliament must swiftly vote to support the law to move forward with turning words into action. The vote by the Permanent Representatives of Member States will be followed by a vote in the European Parliament’s JURI Committee on March 19th, with the plenary vote expected the week of April 25th.