Response to EC CSDD Directive proposal

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      <subfield code="a">Response to EC CSDD Directive proposal</subfield>
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      <subfield code="a">Brussels</subfield>
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      <subfield code="a">ECO-LTI-22-061</subfield>
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      <subfield code="a">As Europe's largest institutional investor, the insurance sector is committed to the EU's sustainability objectives. European insurers also strongly agree that economic activities must avoid causing or  contributing to adverse impacts on human rights and the environment, and welcome corporate decisions that duly take account of a broad spectrum of considerations relevant to both the companies' impact on people and the planet, as well as on long-term financial performance.
The European Commission's (EC) proposal for a Corporate Sustainability Due Diligence (CSDD) Directive is intended to accelerate and deepen the corporate sustainability actions and transition planning already being undertaken by many companies, and the insurance industry supports this objective. It is, however, important that in creating legal obligations and penalties (civil liabilities/ fines) for non-compliance, the requirements are appropriate, clear, proportionate and consistent with existing requirements</subfield>
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