Business: Sustainable Development
The question
To ask the Secretary of State for Business and Trade, what assessment his Department has made of the potential impact of the EU Corporate Sustainability Due Diligence Directive on (a) Northern Ireland, (b) UK firms trading with the EU and (c) levels of divestment in the UK defence industry.
Answered by Mr Douglas Alexander
Responsibility for assessing the impact of EU legislation ultimately lies with the European Commission, who have published their own impact assessment of the Corporate Sustainability Due Diligence Directive (CSDDD).
CSDDD will apply to UK companies generating over €450 million in turnover within the EU. The Government has noted the recent Omnibus proposal updating CSDDD, which was published on 26 February.
We will continue to assess and monitor the effectiveness of the UK’s existing measures, alongside the impacts of emerging policy tools, including in the EU, to ensure we can best promote responsible business practices and take action where appropriate.
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