EP Committee vote on corporate due diligence: A step in the right direction, further improvements needed

This afternoon, the Legal Affairs Committee of the European Parliament adopted an important report requesting the European Commission to submit a formal proposal for an EU due diligence law. The law requires business enterprises, including financial institutions, to address human rights, environmental and governance risks and impacts throughout their global value chains. Such a corporate accountability law is needed as voluntary business commitments have failed to stop continued corporate abuse.