Activities of Heidi HAUTALA related to 2020/2137(INI)
Opinions (1)
OPINION on Sustainable Corporate Governance
Legal basis opinions (0)
Amendments (11)
Amendment 5 #
Draft opinion
Paragraph 1
Paragraph 1
1. Reiterates that global value chains are the key feature of the global economy but their complex nature, lack of transparency and dilution of liabilities may lead to a higher risk of human and labour rights violations, factual impunity for environmental crimes and that trade policy must contribute to a transparent production process throughout the value chain and demonstrate compliance with environmental, social and safety standards;
Amendment 12 #
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
Amendment 21 #
Draft opinion
Paragraph 2
Paragraph 2
2. Emphasises that sustainable corporate governance can help the EU to build a more resilient and sustainable economy, improve the level playing field and protect EU businesses and citizens, and is therefore hugely beneficial to EU trade and investment policy;
Amendment 28 #
Draft opinion
Paragraph 3
Paragraph 3
3. Notes that the COVID-19 crisis has exposed the vulnerabilities of unregulated global supply chains, and that businesses with better environmental, social and governance practices and risk mitigation processes weather the crisis better; recognises that the OECD has stated that companies taking proactive steps to address the risks related to the COVID-19 crisis in a way that mitigates adverse impacts on workers and supply chains are likely to build more long-term value and resilience, improving their viability in the short term and their prospects for recovery in the medium to long term. 2a _________________ 2ahttp://www.oecd.org/coronavirus/policy- responses/covid-19-and-responsible- business-conduct- 02150b06/#:~:text=A%20responsible%20 business%20conduct%20(RBC,both%20g overnment%20and%20business%20respo nses.
Amendment 37 #
Draft opinion
Paragraph 4
Paragraph 4
4. Notes with concern that over three- in-four of companies do not provide information about their supply chain transparency, with less than 1 % of companies publicly list their suppliers3a, even in high- risk sectors; except in the apparel sector where a notable amount of companies provide either a general or detailed list of their suppliers; calls on the Commission to use the review of the Non- financial reporting directive as an opportunity to strengthen reporting requirements and enhance its enforceability; _________________ 3aThe Alliance for Corporate Transparency Research Report 2019: An analysis of the sustainability reports of 1000 companies pursuant to the EU Non- Financial Reporting Directive, p. 6, available at http://www.allianceforcorporatetranspare ncy.org/assets/2019_Research_Report%20 _Alliance_for_Corporate_Transparency- 7d9802a0c18c9f13017d686481bd2d6c688 6fea6d9e9c7a5c3cfafea8a48b1c7.pdf
Amendment 43 #
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Stresses that, in order to provide a level playing field, sustainable corporate governance requirements including non- financial reporting should apply to all, both EU and non-EU, companies operating in the EU area.
Amendment 49 #
Draft opinion
Paragraph 5
Paragraph 5
5. Stresses that directors’ duties should encompass an obligation to develop, disclose and implement a corporate sustainability strategy for all aspects of the company’s operations, including its supply chains; , the purpose of which is to integrate the planetary boundaries and human rights, into environmental, social and governance considerations, and such strategy should cover all aspects of the company’s operations, including its value chains; stresses that the development of such strategy should go hand in hand with a long term approach which goes beyond current shareholder value primacy;
Amendment 54 #
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Calls for three distinct, yet mutually reinforcing legislative proposals on Directors’ duties and Sustainable Corporate Governance, on Corporate Human Rights and environmental due diligence and on the reform of the Non- Financial Reporting Directive.
Amendment 57 #
Draft opinion
Paragraph 6
Paragraph 6
6. Stresses that the requirement to disclose information on how sustainability issues including environmental, social and employee matters, respect for human rights, and bribery and corruption affect the company and how the company affects the society and the environment -so called ‘double materiality standard’- should include the sharing of all relevant information on all actors throughout the entire supply chain;value chain; stresses that such sustainable corporate governance forms a part of the “corporate responsibility to respect” as defined in the UN Guiding Principles of Business and Human Rights.
Amendment 69 #
Draft opinion
Paragraph 7
Paragraph 7
7. Notes that sustainable corporate governance cannot reach its full potential without due diligence legislation that requires companies to identify, prevent, mitigate and account for human rights abuses and environmental damage in their global value chains. , including provisions for liability for harm caused and for the failure to adequately carry out due diligence.
Amendment 74 #
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)