Integrating Public Goals into Corporate Sustainability Duties

 
P
UBLIC
 G
OALS
 
AND
 P
RIVATE
 D
UTIES
 
IN
THE
 C
ORPORATE
 S
USTAINABILITY
 D
UE
D
ILIGENCE
 D
IRECTIVE
 
 
Michele Corgatelli (LLM by Research, University of Glasgow)
 
Ph.D. Student in Legal Studies
,
 University of Bologna
Visiting Student, European University Institute
 
Corporate governance implications
 
 
Providing context to corporate law scholars
 
Assessing the integration of public goals (set jointly by State actors) into the
private duties of EU large companies
 
Exploring the implications of this integration on the interpretation of the legal
text
 
This paper aims at:
 
California Transparency in Supply Chains Act
French Duty of Vigilance Law
Dutch Responsible and Sustainable International Business
Conduct Act
Norwegian Supply Chain Transparency Act
German Supply Chain Due Diligence Act
Modern Slavery Act (UK, Australia, Canada)
Dodd-Frank Wall Street Reform and Consumer Protection
Act
Regulation (EU) 2017/821
 
 
Scope of application
Social v. environmental aspect
Procedures established
Enforcement (public 
v. private)
 
Context
 
 
International standards
U
N Sustainable Goals
Paris Agreement
International Treaties listed in the Annex
 
Four level of integration of public goals into private duties
 
International standards
 
adoption of due diligence policies
identification of actual and potential adverse human rights and
environmental impacts
prevention
contrast to actual adverse impacts
complaints procedures
monitoring
communication
 
CSDDD:
 
UN Sustainable Goals & Paris Agreement
 
no poverty (n. 1)
good health and well-being (n. 3)
gender equality (n. 5)
clean water and sanitation (n. 6)
decent work and economic growth (n. 8)
industry, innovation and infrastructure (n. 9)
reduced inequalities (n. 10)
peace, justice and strong institutions (n. 16)
target n. 12.6 mentions the encouragement of sustainable corporate
practices
g
oal n. 17 designates a role for businesses in assisting governments in
addressing the other state-centred 
Goals
 
CSDDD:
 
Art. 30 of the European Commission’s proposal: the deadline for the
transposition of the Directive 
is set at 2 years from the day of its entry into
force
Member States shall apply the provisions 
from
 2 or 4 years from its entry
into force on the basis of different thresholds related to the companies’ size
T
he prevention and mitigation of potential adverse impacts through
preventive action plans will require consultations with affected
stakeholders (Art. 7)
 
An impossible goal?
 
International Treaties listed in the Annex
 
 
The origins of the initiative are key to the interpretation of this legal text
Business lawyers are familiar with the concept of due diligence
≠ business due diligence
Overview of third parties’ conduct
Impacts (double materiality principle)
Risk management (= prevention of externalities)
Costs
Enforcement (public v. private)
Extra-territorial effects (global value chains)
International treaties (how can companies contribute?)
 
 
Implications of the shift towards corporate
sustainability due diligence
 
Thank you!
 
 
 
michele.corgatelli@unibo.it
https://www.unibo.it/sitoweb/michele.corgatelli/en
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This paper by Michele Corgatelli explores the integration of public goals into the private duties of EU large companies, examining the implications on legal interpretation. It delves into various regulatory frameworks globally, discussing the scope, application, enforcement, and social-environmental aspects, aiming to provide context for corporate law scholars. The paper also discusses the levels of integration of public goals into private duties through international standards and treaties.


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  1. PUBLIC GOALS AND PRIVATE DUTIES IN THE CORPORATE SUSTAINABILITY DUE DILIGENCE DIRECTIVE Michele Corgatelli (LLM by Research, University of Glasgow) Ph.D. Student in Legal Studies, University of Bologna Visiting Student, European University Institute

  2. 2

  3. 3

  4. 4

  5. 5

  6. 6

  7. 7

  8. 8

  9. Corporate governance implications 9

  10. This paper aims at: Providing context to corporate law scholars Assessing the integration of public goals (set jointly by State actors) into the private duties of EU large companies Exploring the implications of this integration on the interpretation of the legal text 10

  11. Context California Transparency in Supply Chains Act French Duty of Vigilance Law Dutch Responsible and Sustainable International Business Conduct Act Norwegian Supply Chain Transparency Act German Supply Chain Due Diligence Act Modern Slavery Act (UK, Australia, Canada) Dodd-Frank Wall Street Reform and Consumer Protection Act Regulation (EU) 2017/821 Scope of application Social v. environmental aspect Procedures established Enforcement (public v. private) 11

  12. 12

  13. Four level of integration of public goals into private duties International standards UN Sustainable Goals Paris Agreement International Treaties listed in the Annex 13

  14. International standards 14

  15. 15

  16. CSDDD: adoption of due diligence policies identification of actual and potential adverse human rights and environmental impacts prevention contrast to actual adverse impacts complaints procedures monitoring communication 16

  17. UN Sustainable Goals & Paris Agreement 17

  18. 18

  19. 19

  20. CSDDD: no poverty (n. 1) good health and well-being (n. 3) gender equality (n. 5) clean water and sanitation (n. 6) decent work and economic growth (n. 8) industry, innovation and infrastructure (n. 9) reduced inequalities (n. 10) peace, justice and strong institutions (n. 16) target n. 12.6 mentions the encouragement of sustainable corporate practices goal n. 17 designates a role for businesses in assisting governments in addressing the other state-centred Goals 20

  21. An impossible goal? Art. 30 of the European Commission s proposal: the deadline for the transposition of the Directive is set at 2 years from the day of its entry into force Member States shall apply the provisions from 2 or 4 years from its entry into force on the basis of different thresholds related to the companies size The prevention and mitigation of potential adverse impacts through preventive action plans will require stakeholders (Art. 7) consultations with affected 21

  22. International Treaties listed in the Annex 22

  23. Implications of the shift towards corporate sustainability due diligence The origins of the initiative are key to the interpretation of this legal text Business lawyers are familiar with the concept of due diligence business due diligence Overview of third parties conduct Impacts (double materiality principle) Risk management (= prevention of externalities) Costs Enforcement (public v. private) Extra-territorial effects (global value chains) International treaties (how can companies contribute?) 23

  24. Thank you! michele.corgatelli@unibo.it https://www.unibo.it/sitoweb/michele.corgatelli/en www.unibo.it

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