Reacting to the EU Corporate Sustainability Due Diligence Directive agreement, BusinessEurope Director General Markus J. Beyrer expressed concerns about the implications of the new rules. Beyrer stated, "The new due diligence rules will add unparalleled obligations, set harsh sanctions with potential existential implications for companies, and unilaterally expose them to litigation from all parts of the world." He highlighted the negative impact on SMEs, noting that they "will be negatively affected as they make up the largest part of value chains."
Furthermore, Beyrer pointed out the potential disadvantage for European companies with global operations, stating, "European companies with global operations, some with millions of indirect relationships, will be put at a disadvantage compared to their global competitors and might pull out of markets due to the risks of litigation and sanctions." He expressed regret that many crucial issues remained unresolved and emphasized the industry's willingness to collaborate on harmonized EU rules.
Highlighting the challenges ahead, Beyrer emphasized, "The narrow margin of approval and the abstention of as many as 10 member states, representing more than 31% of the EU population, shows that this 'compromise' is still far from a workable solution." He urged EU decision makers to address the remaining concerns before the final adoption of the Directive.