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French banks lead opposition to finance sector’s inclusion in EU CSDDD

BNP Paribas bank logo
French banks are ‘arguing for a review clause which postpones assessment of inclusion by a couple of years’, says ABN Amro’s Nelleke Hoffs (Photo: Christophe Morin/Bloomberg)

Negotiations on the EU Corporate Sustainability Due Diligence Directive have resumed, but they face up an uphill struggle in the face of pushback from some financial institutions, while the ECB’s Frank Elderson says the law would help ensure the sector systematically integrates sustainability into decision-making and risk management

French banks are leading the opposition to the EU’s planned Corporate Sustainability Due Diligence Directive, according to experts close to the negotiations as the trialogues between the European Commission, EU parliament and European Council aimed at finalising the law before the end of the year kick off again.

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