The EU Corporate Sustainability Due Diligence Directive (CSDDD) faced a setback as it did not receive the necessary support from the European Council, putting its future in jeopardy before the European elections in June. Attempts to modify the directive to gain approval failed, with significant opposition from countries like Germany and Italy. The directive aimed to enforce human rights and environmental due diligence requirements for companies, but faced criticism for potentially burdening smaller firms. Its rejection indicates a significant delay and possible renegotiation post-elections, impacting the EU’s approach to corporate sustainability standards
SEC Pauses Climate Change Disclosure Rules
by Patrick Paul, Shawane Lee, and John Habib The Securities and Exchange Commission (SEC) recently made a significant decision to pause its implementation of new rules aimed at enhancing climate change disclosures by public companies. (Order Issuing Stay) This move, which was announced on April 1, 2024, comes as a surprise to many observers who…