EU Proposes New Law To Make Sure Suppliers Comply With ESG Standards

The European Commission, the legislative branch of the European Union, proposed on Wednesday a new directive to have the largest firms operating in the bloc check their supply chains for environmental issues and prevent, mitigate, or end adverse impact their activities have on the environment. Under the proposed Directive on corporate sustainability due diligence, all EU limited liability companies of substantial size and economic power, that is over 500 employees and over $170 million (150 million euro) in net turnover worldwide, will have to…