European Union: CSDDD - no escape for the financial sector?

EU Directive on Corporate Sustainability Due Diligence (CSDDD) exempts financial institutions from due diligence in identifying, mitigating and correcting potential adverse impacts, whether human rights or environmental, in their "chain of activities". In practice, however, it will be difficult to escape completely, not least because the sector will still need to adopt and implement transition plans.

Directive (EU) 2024/1760 of the European Parliament and of the Council of 13 June 2024 on due diligence on the sustainability of businesses and amending Directive (EU) 2019/1937 and Regulation (EU) 2023/2859 Text with EEA relevance. (CSDDD)

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