Ilaria Curti’s Post

🔔 BREAKING: EU member states approved the final adoption of the EU Corporate Sustainability Due Diligence Directive #CSDDD, during #COMPET Council. ⚡ After an eventful few last months, this vote completes the adoption of this groundbreaking law - arguably the most significant policy development in our space since the adoption of the UN Guiding Principles. 📃 Final text: lnkd.in/eYA75UvW 🚥 17 EU member states approved the law, no member state voted against CSDDD, 10 member states abstained. 📅 Expectedly in about 6 weeks, the law will be published in the EU journal. 📌 CSDDD will enter into force on the 20th day following publication... that's when the journey starts: 👉 EU member states have 2 years to transpose CSDDD into national law. It'll be key to watch whether (and how) member states tranpose CSDDD 1:1 - or expand the requirements.  👉 European Commission will prepare implementation, incl. by delivering accompanying measures & guidance. These will determine key aspects of the law: stakes are high, expect intensive stakeholder engagement. 👉 Large companies will have - depending on their size - 3 to 5 years to prepare compliance. For most companies, a daunting task: enhancing due diligence systems, aligning standards with CSDDD's thematic scope, scaling due diligence to cover the value chain more widely, training suppliers, and enhancing stakeholder engagement. 👉 But most important... EU governments themselves will have to step up their game. As they place unprecented expectations on industry, the EU & member states need to match that with equal ambition in fulfilling their own duties to enable responsible supply chains. ❓ 🧠 Recent events hosted by RBA with EU institutions shed light on some key questions: 👉 𝐃𝐨𝐞𝐬 𝐂𝐒𝐃𝐃𝐃 𝐦𝐚𝐫𝐤 𝐭𝐡𝐞 𝐬𝐭𝐚𝐫𝐭 𝐨𝐟 𝐚 𝐧𝐞𝐰 𝐞𝐫𝐚? There seems near consensus that 𝐘𝐄𝐒, CSDDD is an absolute game-changer, despite recent concessions. 👉 𝐖𝐢𝐥𝐥 𝐭𝐡𝐢𝐬 𝐜𝐫𝐞𝐚𝐭𝐞 𝐚𝐧𝐨𝐭𝐡𝐞𝐫 𝐜𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 𝐞𝐱𝐞𝐫𝐜𝐢𝐬𝐞 𝐰𝐢𝐭𝐡𝐨𝐮𝐭 𝐭𝐚𝐧𝐠𝐢𝐛𝐥𝐞 𝐢𝐦𝐩𝐚𝐜𝐭 𝐨𝐧 𝐭𝐡𝐞 𝐠𝐫𝐨𝐮𝐧𝐝? Time will tell. But in my opinion, likely this will be how companies choose it to be. CSDDD incentivizes risk-based, meaningful due diligence that includes & benefits rights holders. If companies genuinely commit to its spirit, I expect positive impact. 👉 𝐖𝐢𝐥𝐥 𝐂𝐒𝐃𝐃𝐃 𝐬𝐨𝐥𝐯𝐞 𝐚𝐥𝐥 𝐭𝐡𝐚𝐭'𝐬 𝐰𝐫𝐨𝐧𝐠 𝐢𝐧 𝐠𝐥𝐨𝐛𝐚𝐥 𝐬𝐮𝐩𝐩𝐥𝐲 𝐜𝐡𝐚𝐢𝐧𝐬? No.  👉𝐂𝐚𝐧 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐝𝐨 𝐭𝐡𝐢𝐬 𝐨𝐧 𝐭𝐡𝐞𝐢𝐫 𝐨𝐰𝐧? No (CSDDD is far too ambitious for that). 𝐖𝐢𝐥𝐥 𝐭𝐡𝐞𝐲 𝐡𝐚𝐯𝐞 𝐭𝐨? No. CSDDD mandates collaborative approaches.   👉 𝐀𝐫𝐞 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐩𝐚𝐧𝐢𝐜𝐤𝐢𝐧𝐠? Having had the chance to work on CSDDD readiness with companies globally, I see a split landscape, with a good half of industry feeling confident that they are on track; the other half - genuinely worried.

🔔 BREAKING: EU member states approved the final adoption of the EU Corporate Sustainability Due Diligence Directive #CSDDD, during #COMPET Council. ⚡ After an eventful few last months, this vote completes the adoption of this groundbreaking law - arguably the most significant policy development in our space since the adoption of the UN Guiding Principles. 📃 Final text: lnkd.in/eYA75UvW 🚥 17 EU member states approved the law, no member state voted against CSDDD, 10 member states abstained. 📅 Expectedly in about 6 weeks, the law will be published in the EU journal. 📌 CSDDD will enter into force on the 20th day following publication... that's when the journey starts: 👉 EU member states have 2 years to transpose CSDDD into national law. It'll be key to watch whether (and how) member states tranpose CSDDD 1:1 - or expand the requirements.  👉 European Commission will prepare implementation, incl. by delivering accompanying measures & guidance. These will determine key aspects of the law: stakes are high, expect intensive stakeholder engagement. 👉 Large companies will have - depending on their size - 3 to 5 years to prepare compliance. For most companies, a daunting task: enhancing due diligence systems, aligning standards with CSDDD's thematic scope, scaling due diligence to cover the value chain more widely, training suppliers, and enhancing stakeholder engagement. 👉 But most important... EU governments themselves will have to step up their game. As they place unprecented expectations on industry, the EU & member states need to match that with equal ambition in fulfilling their own duties to enable responsible supply chains. ❓ 🧠 Recent events hosted by RBA with EU institutions shed light on some key questions: 👉 𝐃𝐨𝐞𝐬 𝐂𝐒𝐃𝐃𝐃 𝐦𝐚𝐫𝐤 𝐭𝐡𝐞 𝐬𝐭𝐚𝐫𝐭 𝐨𝐟 𝐚 𝐧𝐞𝐰 𝐞𝐫𝐚? There seems near consensus that 𝐘𝐄𝐒, CSDDD is an absolute game-changer, despite recent concessions. 👉 𝐖𝐢𝐥𝐥 𝐭𝐡𝐢𝐬 𝐜𝐫𝐞𝐚𝐭𝐞 𝐚𝐧𝐨𝐭𝐡𝐞𝐫 𝐜𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 𝐞𝐱𝐞𝐫𝐜𝐢𝐬𝐞 𝐰𝐢𝐭𝐡𝐨𝐮𝐭 𝐭𝐚𝐧𝐠𝐢𝐛𝐥𝐞 𝐢𝐦𝐩𝐚𝐜𝐭 𝐨𝐧 𝐭𝐡𝐞 𝐠𝐫𝐨𝐮𝐧𝐝? Time will tell. But in my opinion, likely this will be how companies choose it to be. CSDDD incentivizes risk-based, meaningful due diligence that includes & benefits rights holders. If companies genuinely commit to its spirit, I expect positive impact. 👉 𝐖𝐢𝐥𝐥 𝐂𝐒𝐃𝐃𝐃 𝐬𝐨𝐥𝐯𝐞 𝐚𝐥𝐥 𝐭𝐡𝐚𝐭'𝐬 𝐰𝐫𝐨𝐧𝐠 𝐢𝐧 𝐠𝐥𝐨𝐛𝐚𝐥 𝐬𝐮𝐩𝐩𝐥𝐲 𝐜𝐡𝐚𝐢𝐧𝐬? No.  👉𝐂𝐚𝐧 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐝𝐨 𝐭𝐡𝐢𝐬 𝐨𝐧 𝐭𝐡𝐞𝐢𝐫 𝐨𝐰𝐧? No (CSDDD is far too ambitious for that). 𝐖𝐢𝐥𝐥 𝐭𝐡𝐞𝐲 𝐡𝐚𝐯𝐞 𝐭𝐨? No. CSDDD mandates collaborative approaches.   👉 𝐀𝐫𝐞 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐩𝐚𝐧𝐢𝐜𝐤𝐢𝐧𝐠? Having had the chance to work on CSDDD readiness with companies globally, I see a split landscape, with a good half of industry feeling confident that they are on track; the other half - genuinely worried.

🔔 BREAKING: EU member states approved the final adoption of the EU Corporate Sustainability Due Diligence Directive #CSDDD, during #COMPET Council. ⚡ After an eventful few last months, this vote completes the adoption of this groundbreaking law - arguably the most significant policy development in our space since the adoption of the UN Guiding Principles. 📃 Final text: lnkd.in/eYA75UvW 🚥 17 EU member states approved the law, no member state voted against CSDDD, 10 member states abstained. 📅 Expectedly in about 6 weeks, the law will be published in the EU journal. 📌 CSDDD will enter into force on the 20th day following publication... that's when the journey starts: 👉 EU member states have 2 years to transpose CSDDD into national law. It'll be key to watch whether (and how) member states tranpose CSDDD 1:1 - or expand the requirements.  👉 European Commission will prepare implementation, incl. by delivering accompanying measures & guidance. These will determine key aspects of the law: stakes are high, expect intensive stakeholder engagement. 👉 Large companies will have - depending on their size - 3 to 5 years to prepare compliance. For most companies, a daunting task: enhancing due diligence systems, aligning standards with CSDDD's thematic scope, scaling due diligence to cover the value chain more widely, training suppliers, and enhancing stakeholder engagement. 👉 But most important... EU governments themselves will have to step up their game. As they place unprecented expectations on industry, the EU & member states need to match that with equal ambition in fulfilling their own duties to enable responsible supply chains. ❓ 🧠 Recent events hosted by RBA with EU institutions shed light on some key questions: 👉 𝐃𝐨𝐞𝐬 𝐂𝐒𝐃𝐃𝐃 𝐦𝐚𝐫𝐤 𝐭𝐡𝐞 𝐬𝐭𝐚𝐫𝐭 𝐨𝐟 𝐚 𝐧𝐞𝐰 𝐞𝐫𝐚? There seems near consensus that 𝐘𝐄𝐒, CSDDD is an absolute game-changer, despite recent concessions. 👉 𝐖𝐢𝐥𝐥 𝐭𝐡𝐢𝐬 𝐜𝐫𝐞𝐚𝐭𝐞 𝐚𝐧𝐨𝐭𝐡𝐞𝐫 𝐜𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 𝐞𝐱𝐞𝐫𝐜𝐢𝐬𝐞 𝐰𝐢𝐭𝐡𝐨𝐮𝐭 𝐭𝐚𝐧𝐠𝐢𝐛𝐥𝐞 𝐢𝐦𝐩𝐚𝐜𝐭 𝐨𝐧 𝐭𝐡𝐞 𝐠𝐫𝐨𝐮𝐧𝐝? Time will tell. But in my opinion, likely this will be how companies choose it to be. CSDDD incentivizes risk-based, meaningful due diligence that includes & benefits rights holders. If companies genuinely commit to its spirit, I expect positive impact. 👉 𝐖𝐢𝐥𝐥 𝐂𝐒𝐃𝐃𝐃 𝐬𝐨𝐥𝐯𝐞 𝐚𝐥𝐥 𝐭𝐡𝐚𝐭'𝐬 𝐰𝐫𝐨𝐧𝐠 𝐢𝐧 𝐠𝐥𝐨𝐛𝐚𝐥 𝐬𝐮𝐩𝐩𝐥𝐲 𝐜𝐡𝐚𝐢𝐧𝐬? No.  👉𝐂𝐚𝐧 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐝𝐨 𝐭𝐡𝐢𝐬 𝐨𝐧 𝐭𝐡𝐞𝐢𝐫 𝐨𝐰𝐧? No (CSDDD is far too ambitious for that). 𝐖𝐢𝐥𝐥 𝐭𝐡𝐞𝐲 𝐡𝐚𝐯𝐞 𝐭𝐨? No. CSDDD mandates collaborative approaches.   👉 𝐀𝐫𝐞 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐩𝐚𝐧𝐢𝐜𝐤𝐢𝐧𝐠? Having had the chance to work on CSDDD readiness with companies globally, I see a split landscape, with a good half of industry feeling confident that they are on track; the other half - genuinely worried.

⚡ European Parliament plenary just now formally adopted the EU Corporate Sustainability Due Diligence Directive #CSDDD, 374 on 628 in favor. 🤟 It was exciting to follow the final vote live in Strasbourg at European Parliament, with friends & colleagues. ❗Today was the final vote by European Parliament before the completion of the file's adoption. Further delays due to so-called corrigendum procedure, have been averted. ⏭ EU Council will now seal the adoption of the law - in COREPER (ambassadors) on May 15th and with COMPET Council (ministers) vote on May 23rd. EU member states approved CSDDD text on March 15th. ⭐ #CSDDD will then be published in the EU Journal & enter into force 20 days later (around start of summer), but it'll only enter into application gradually as of 3 years later (mid 2027). 💡 In recent weeks, RBA organized several high-level discussions with government and industry leaders to discuss the implications of this groundbreaking new law. Some takeaways: 👉 there seems to be consensus that CSDDD remains a game-changer for our space (despite its imperfections & despite recent concessions) and that it holds the potential to fix many of the imperfections of existing due diligence laws and existing due diligence practice. 👉we need to manage expectations: CSDDD can fix how companies behave with regards to risks, but it obviously won't fix the world's problems. And, companies can't deliver CSDDD overnight - companies deserve time and patience to gradually get this right. 👉Implementing CSDDD is a huge challenge for companies, but we know the recipe and have most of the tools to get there. That said - tools and approaches will need to improve & their deployment brought to (way) greater scale. 👉the EU is ambitious in what it asks from companies, but will need to match that ambition: the role of (EU) governments in getting this right, is huge: from delivering accompanying measures (the relatively easy part), to finally offering effective solutions for policy coherence (the more difficult part), to using its own leverage to address systemic situations that companies alone don't have the needed leverage (the difficult part). 👉 one of several things the EU need to get right in the next phase is not only harmonised transposition but especially also engagement with non-EU countries, on the impacs of this law, both from a policy and industry point of view. RBA has been engaging governments and industries worldwide since late 2022, to educate and prepare for the implications of CSDDD. Congratulations to “Ms. CSDDD” Lara Wolters and team (especially Matthew Hogarth) for delivering what many thought was impossible; to Heidi Hautala (and team - especially Milla Ojalehto and @Herlinde Vanhooydonck) for paving the way - championing the topic - building bridges across silos; and to Axel Voss and the incredible Greta Koch, both of who deserve so much credit for making business sense out of a complex file under complicated circumstances.

⚡ European Parliament plenary just now formally adopted the EU Corporate Sustainability Due Diligence Directive #CSDDD, 374 on 628 in favor. 🤟 It was exciting to follow the final vote live in Strasbourg at European Parliament, with friends & colleagues. ❗Today was the final vote by European Parliament before the completion of the file's adoption. Further delays due to so-called corrigendum procedure, have been averted. ⏭ EU Council will now seal the adoption of the law - in COREPER (ambassadors) on May 15th and with COMPET Council (ministers) vote on May 23rd. EU member states approved CSDDD text on March 15th. ⭐ #CSDDD will then be published in the EU Journal & enter into force 20 days later (around start of summer), but it'll only enter into application gradually as of 3 years later (mid 2027). 💡 In recent weeks, RBA organized several high-level discussions with government and industry leaders to discuss the implications of this groundbreaking new law. Some takeaways: 👉 there seems to be consensus that CSDDD remains a game-changer for our space (despite its imperfections & despite recent concessions) and that it holds the potential to fix many of the imperfections of existing due diligence laws and existing due diligence practice. 👉we need to manage expectations: CSDDD can fix how companies behave with regards to risks, but it obviously won't fix the world's problems. And, companies can't deliver CSDDD overnight - companies deserve time and patience to gradually get this right. 👉Implementing CSDDD is a huge challenge for companies, but we know the recipe and have most of the tools to get there. That said - tools and approaches will need to improve & their deployment brought to (way) greater scale. 👉the EU is ambitious in what it asks from companies, but will need to match that ambition: the role of (EU) governments in getting this right, is huge: from delivering accompanying measures (the relatively easy part), to finally offering effective solutions for policy coherence (the more difficult part), to using its own leverage to address systemic situations that companies alone don't have the needed leverage (the difficult part). 👉 one of several things the EU need to get right in the next phase is not only harmonised transposition but especially also engagement with non-EU countries, on the impacs of this law, both from a policy and industry point of view. RBA has been engaging governments and industries worldwide since late 2022, to educate and prepare for the implications of CSDDD. Congratulations to “Ms. CSDDD” Lara Wolters and team (especially Matthew Hogarth) for delivering what many thought was impossible; to Heidi Hautala (and team - especially Milla Ojalehto and @Herlinde Vanhooydonck) for paving the way - championing the topic - building bridges across silos; and to Axel Voss and the incredible Greta Koch, both of who deserve so much credit for making business sense out of a complex file under complicated circumstances.

⚡ European Parliament plenary just now formally adopted the EU Corporate Sustainability Due Diligence Directive #CSDDD, 374 on 628 in favor. 🤟 It was exciting to follow the final vote live in Strasbourg at European Parliament, with friends & colleagues. ❗Today was the final vote by European Parliament before the completion of the file's adoption. Further delays due to so-called corrigendum procedure, have been averted. ⏭ EU Council will now seal the adoption of the law - in COREPER (ambassadors) on May 15th and with COMPET Council (ministers) vote on May 23rd. EU member states approved CSDDD text on March 15th. ⭐ #CSDDD will then be published in the EU Journal & enter into force 20 days later (around start of summer), but it'll only enter into application gradually as of 3 years later (mid 2027). 💡 In recent weeks, RBA organized several high-level discussions with government and industry leaders to discuss the implications of this groundbreaking new law. Some takeaways: 👉 there seems to be consensus that CSDDD remains a game-changer for our space (despite its imperfections & despite recent concessions) and that it holds the potential to fix many of the imperfections of existing due diligence laws and existing due diligence practice. 👉we need to manage expectations: CSDDD can fix how companies behave with regards to risks, but it obviously won't fix the world's problems. And, companies can't deliver CSDDD overnight - companies deserve time and patience to gradually get this right. 👉Implementing CSDDD is a huge challenge for companies, but we know the recipe and have most of the tools to get there. That said - tools and approaches will need to improve & their deployment brought to (way) greater scale. 👉the EU is ambitious in what it asks from companies, but will need to match that ambition: the role of (EU) governments in getting this right, is huge: from delivering accompanying measures (the relatively easy part), to finally offering effective solutions for policy coherence (the more difficult part), to using its own leverage to address systemic situations that companies alone don't have the needed leverage (the difficult part). 👉 one of several things the EU need to get right in the next phase is not only harmonised transposition but especially also engagement with non-EU countries, on the impacs of this law, both from a policy and industry point of view. RBA has been engaging governments and industries worldwide since late 2022, to educate and prepare for the implications of CSDDD. Congratulations to “Ms. CSDDD” Lara Wolters and team (especially Matthew Hogarth) for delivering what many thought was impossible; to Heidi Hautala (and team - especially Milla Ojalehto and @Herlinde Vanhooydonck) for paving the way - championing the topic - building bridges across silos; and to Axel Voss and the incredible Greta Koch, both of who deserve so much credit for making business sense out of a complex file under complicated circumstances.

⚡ European Parliament plenary just now formally adopted the EU Corporate Sustainability Due Diligence Directive #CSDDD, 374 on 628 in favor. 🤟 It was exciting to follow the final vote live in Strasbourg at European Parliament, with friends & colleagues. ❗Today was the final vote by European Parliament before the completion of the file's adoption. Further delays due to so-called corrigendum procedure, have been averted. ⏭ EU Council will now seal the adoption of the law - in COREPER (ambassadors) on May 15th and with COMPET Council (ministers) vote on May 23rd. EU member states approved CSDDD text on March 15th. ⭐ #CSDDD will then be published in the EU Journal & enter into force 20 days later (around start of summer), but it'll only enter into application gradually as of 3 years later (mid 2027). 💡 In recent weeks, RBA organized several high-level discussions with government and industry leaders to discuss the implications of this groundbreaking new law. Some takeaways: 👉 there seems to be consensus that CSDDD remains a game-changer for our space (despite its imperfections & despite recent concessions) and that it holds the potential to fix many of the imperfections of existing due diligence laws and existing due diligence practice. 👉we need to manage expectations: CSDDD can fix how companies behave with regards to risks, but it obviously won't fix the world's problems. And, companies can't deliver CSDDD overnight - companies deserve time and patience to gradually get this right. 👉Implementing CSDDD is a huge challenge for companies, but we know the recipe and have most of the tools to get there. That said - tools and approaches will need to improve & their deployment brought to (way) greater scale. 👉the EU is ambitious in what it asks from companies, but will need to match that ambition: the role of (EU) governments in getting this right, is huge: from delivering accompanying measures (the relatively easy part), to finally offering effective solutions for policy coherence (the more difficult part), to using its own leverage to address systemic situations that companies alone don't have the needed leverage (the difficult part). 👉 one of several things the EU need to get right in the next phase is not only harmonised transposition but especially also engagement with non-EU countries, on the impacs of this law, both from a policy and industry point of view. RBA has been engaging governments and industries worldwide since late 2022, to educate and prepare for the implications of CSDDD. Congratulations to “Ms. CSDDD” Lara Wolters and team (especially Matthew Hogarth) for delivering what many thought was impossible; to Heidi Hautala (and team - especially Milla Ojalehto and @Herlinde Vanhooydonck) for paving the way - championing the topic - building bridges across silos; and to Axel Voss and the incredible Greta Koch, both of who deserve so much credit for making business sense out of a complex file under complicated circumstances.

⚡ European Parliament plenary just now formally adopted the EU Corporate Sustainability Due Diligence Directive #CSDDD, 374 on 628 in favor. 🤟 It was exciting to follow the final vote live in Strasbourg at European Parliament, with friends & colleagues. ❗Today was the final vote by European Parliament before the completion of the file's adoption. Further delays due to so-called corrigendum procedure, have been averted. ⏭ EU Council will now seal the adoption of the law - in COREPER (ambassadors) on May 15th and with COMPET Council (ministers) vote on May 23rd. EU member states approved CSDDD text on March 15th. ⭐ #CSDDD will then be published in the EU Journal & enter into force 20 days later (around start of summer), but it'll only enter into application gradually as of 3 years later (mid 2027). 💡 In recent weeks, RBA organized several high-level discussions with government and industry leaders to discuss the implications of this groundbreaking new law. Some takeaways: 👉 there seems to be consensus that CSDDD remains a game-changer for our space (despite its imperfections & despite recent concessions) and that it holds the potential to fix many of the imperfections of existing due diligence laws and existing due diligence practice. 👉we need to manage expectations: CSDDD can fix how companies behave with regards to risks, but it obviously won't fix the world's problems. And, companies can't deliver CSDDD overnight - companies deserve time and patience to gradually get this right. 👉Implementing CSDDD is a huge challenge for companies, but we know the recipe and have most of the tools to get there. That said - tools and approaches will need to improve & their deployment brought to (way) greater scale. 👉the EU is ambitious in what it asks from companies, but will need to match that ambition: the role of (EU) governments in getting this right, is huge: from delivering accompanying measures (the relatively easy part), to finally offering effective solutions for policy coherence (the more difficult part), to using its own leverage to address systemic situations that companies alone don't have the needed leverage (the difficult part). 👉 one of several things the EU need to get right in the next phase is not only harmonised transposition but especially also engagement with non-EU countries, on the impacs of this law, both from a policy and industry point of view. RBA has been engaging governments and industries worldwide since late 2022, to educate and prepare for the implications of CSDDD. Congratulations to “Ms. CSDDD” Lara Wolters and team (especially Matthew Hogarth) for delivering what many thought was impossible; to Heidi Hautala (and team - especially Milla Ojalehto and @Herlinde Vanhooydonck) for paving the way - championing the topic - building bridges across silos; and to Axel Voss and the incredible Greta Koch, both of who deserve so much credit for making business sense out of a complex file under complicated circumstances.