In March 2021, the EP adopted an Own Initiative Report calling for a binding EU law to ensure companies are held accountable and liable for human rights and environment abuses throughout their supply chains. The report, authored by MEP Lara Wolters, also calls for access to legal remedies for victims of such abuses. The initiative anticipates draft legislation on sustainable corporate governance, promised by the EC before the summer.
Meanwhile, the EC has announced that it will host a high-level conference on 6th May on the review of the Non-Financial Reporting Directive. The review aims to ensure that the information – including on social and environmental matters which companies are required to provide under the Directive – is relevant, reliable, easy to access and use.
More broadly, the EU Council, has imposed further sanctions on individuals and entities for human rights abuses. The specific abuses include treatment of Uyghurs in China and repression of LGBTI persons in Russia. The sanctions, including asset freezes and travel bans to the EU, were imposed as part of the EU’s Global Human Rights Sanctions Regime, adopted last December.
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