New rules to push companies to mitigate their negative impact on human rights and the environment

Описание: The European Parliament will debate about new rules that would require companies to actively prevent, mitigate, or end the negative impact of their operations on human rights and the environment in any country.

This include issues like child labour, slavery, pollution, and biodiversity loss.

Additionally, companies will have to assess the impact on human rights and the environment within their value chains, which includes suppliers, transportation, distribution, and sales.

The rules will be applicable to EU-based companies employing more than 250 workers and with a turnover of more than €40 million. Parent companies with more than 500 employees and a turnover surpassing €150 million will also fall under these guidelines. Non-EU companies generating a turnover of more than €150 million (with at least €40 million from the EU) will also be included.

Failure to comply with these rules will result in liability and potential fines of no less than 5% of their global turnover. Once the Parliament finalises its position, negotiations with EU countries will start on the final text of the legislation.

Read more about it: https://europa.eu/!KfddwV