EU approves Directive on Corporate Sustainability Due Diligence

On May 24, 2024, the Council of the European Union gave final approval to the Corporate Sustainability Due Diligence Directive (CSDDD). Member states now have two years to bring the directive into national law. It will apply to EU-based companies with more than 1,000 employees on average and a net worldwide turnover of more than 450 million euros. It will also apply to non-EU based companies with turnover of more than 450 million euros in the bloc.