Including in the duties of directors and company law obligations to avoid human rights impacts or “harms”.
The entity strongly disagrees with directors’ legal duty to identify stakeholders and their interests and balance the interests of all stakeholders.
In response to question 6, the entity considers that ‘long-termism and stakeholders’ interests is already embedded in corporate governance codes and national company laws. There is no need for EU legislation on these matters.’
In response to question 8, the entity states that ‘National laws on directors’ duties includes a duty to take into consideration all foreseeable risks, including those pertaining to sustainability. Consequently, sustainability is already embedded in national company law. It should not be for EU law to determine which interests should be taken into account and how to grade them.’
Require companies to provide grievance mechanisms for all stakeholders including those in the value chain.
The entity strongly disagrees on the requirements for directors to establish and apply consultation channels for engaging with stakeholders.
In response to question 20a, the entity acknowledges the importance of consultation of relevant stakeholders in company management, however, the entity considers that ‘there is no need for further EU legal requirements to ensure this. The EU directive on information and consultation is already sufficient.’
Require that companies identify their stakeholders and their interests.
The entity strongly disagrees with the requirements for directors to identify companies’ stakeholders and their interests and it seems that the entity is not supportive for mandatory legal requirements regarding the identification of stakeholders and their interests.
In response to question 6, the entity states that ‘consideration for sustainability, long-termism and stakeholders’ interests is already embedded in corporate governance codes and national company laws. There is no need for EU legislation on these matters. It is not reasonable to believe that companies can carry out an exhaustive overview of all their stakeholders’ interests. There is no definition behind “stakeholders” and no reasonable definition can be found due to the specificity of each company's environment. We strongly believe that any legal consequences attached to this notion would be unreasonable and counterproductive.’
Require directors to establish and apply mechanisms or, where they already exist for employees for example, use existing information and consultation channels for engaging with stakeholders.
The entity strongly disagrees on the requirements for directors to establish and apply consultation channels for engaging with stakeholders.
In response to question 20a, the entity acknowledges the importance of consultation of relevant stakeholders in company management, however, the entity considers that ‘there is no need for further EU legal requirements to ensure this. The EU directive on information and consultation is already sufficient.’
Require that action plans are developed in consultation with affected stakeholders.
It seems that the entity is not supportive for mandatory legal requirements regarding the identification of stakeholders and their interests.
In response to question 6, the entity states that ‘consideration for sustainability, long-termism and stakeholders’ interests is already embedded in corporate governance codes and national company laws. There is no need for EU legislation on these matters. It is not reasonable to believe that companies can carry out an exhaustive overview of all their stakeholders’ interests. There is no definition behind “stakeholders” and no reasonable definition can be found due to the specificity of each company's environment. We strongly believe that any legal consequences attached to this notion would be unreasonable and counterproductive.’
Require that corporate directors should manage the human rights risks for the company in relation to stakeholders and their interest including on the long run.
The entity strongly disagrees with directors’ legal duty to identify stakeholders and their interests and balance the interests of all stakeholders.
In response to question 6, the entity considers that ‘long-termism and stakeholders’ interests is already embedded in corporate governance codes and national company laws. There is no need for EU legislation on these matters.’
| Legislation | Position |
|---|---|
| EU CSDDD | Not Supporting |
| Trade Association | Performance band |
|---|