Scoop – EU agrees on partial inclusion of financial sector in CSDDD

Contrary to an EU official communication, certain activities of banks and other financial companies will be captured by new corporate sustainability rules

All financial institutions operating in the EU will have to comply with upstream supply chain obligations and draw up climate transition plans aligned with the Paris Agreement, after all-night negotiations between the European Commission, parliament and EU member states came to a provisional agreement on the Corporate Sustainability Due Diligence Directive, according to two sources involved in the negotiations.