• Sun. Mar 3rd, 2024

Finland’s Opposition to Corporate Responsibility Directive Leaves Future Uncertain

ByEditor

Feb 10, 2024
The future of the Corporate Responsibility Directive remains uncertain as decisions are pending

On Friday, the Corporate Responsibility Directive was removed from the ambassadors’ meeting list, leaving its fate uncertain. The matter was supposed to be decided at the meeting of the Council representing the EU countries, but it was postponed without a new time being known. Belgium, acting as the presidency, made this decision because there was a threat that the directive would not pass. Germany and Finland have already announced their opposition to the passage of the directive. Italy also opposed it, according to sources from Bloomberg.

Finland’s stance on the directive has caused controversy, with many parties expressing surprise at its negative position. The most controversial issues surrounding the directive are class action and evidence requirements. However, Finland’s government has recently come out against it despite previously supporting it.

Despite this opposition, Finland’s business sector remains largely in support of the directive. FIBS, a Corporate Responsibility network, advocates for its implementation. However, there is still disagreement regarding how problematic some of Finland’s objections actually are and whether they warrant such strong opposition from both government and industry alike.

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