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16 Okt 2023

Global Witness, ShareAction, BHRRC & 3 other orgs

NGO directors call on EU Member States to back human rights & environmental rules for financial sector in due diligence directive

Global Witness – together with other civil society groups working on sustainable finance – today called on EU Member States to back human rights and environmental rules for the financial sector, as part of negotiations on the Corporate Sustainability Due Diligence Directive.

In a letter signed by their directors, the organisations call on EU Member States to support the Spanish presidency's push towards a constructive approach that upholds due diligence requirements for key financial sector activities, including lending, investing, and insurance.

The call comes before the likely conclusion of negotiations on financial sector inclusion in the Council. Their decision will determine how effective the law will be at preventing damaging corporate behaviour.

NGOs also wrote to European Commissioners Breton, Reynders and McGuinness, urging them to back due diligence for the financial sector in the final law.