BUSINESS CALLING FOR THE RIGHT BALANCE ON FUTURE CORPORATE AND DUE DILIGENCE RULES

Business is in favour of actions to support and encourage companies in the transition towards more sustainability. However, at the end of the road, it is essential that all these initiatives (from taxonomy to corporate governance) fit together, do not overlap, take account of the needs of the real economy and do not place European companies under unsustainable expectations and obligations. On due diligence, the aim should be for a framework that is proportionate and workable; that will not simply force companies from disengaging from other markets. The future corporate governance rules should not harm companies’ ability to do business effectively nor weaken current corporate governance models by blurring directors’ duties. These messages were voiced by the President of BusinessEurope Pierre Gattaz during an exchange between European Commissioner for Justice Didier Reynders and several Presidents and Directors General of BusinessEurope member federations.