Yesterday, Lawrence wrote about views on the EU CSRD from the CEOs of ExxonMobil and QatarEnergy. Here’s more – a group of five business coalitions, including the U.S. Chamber of Commerce, issued a joint letter to various US economic and trade agencies urging them to put pressure on the EU omnibus process. The letter staunchly opposes the extraterritoriality of the EU’s Corporate Sustainability Due Diligence Directive (CSDDD). It urges US agencies to take advantage of Parliament’s recent delay and push EU lawmakers to revise the CSDDD and remove any extraterritorial scope. The letter states:
“The window for engagement and legislative action in the EU is fast closing. We hope the administration will continue to engage with Brussels and EU member-state governments to underscore that the current proposals to revise the CSDDD address neither concerns raised by the U.S. business community nor the U.S. government, and that the United States will take measures to protect American companies.”
The letter also praises recent actions of the administration in fighting both the CSDDD and CSRD in trade negotiations. The pressure exerted by Washington thus far appears to have had some effect on EU lawmakers. We previously wrote about how these pressures have led to an indefinite delay on non-EU standards for the CSRD. However, the EU hasn’t budged on removing extraterritoriality provisions from the text of the CSDDD and CSRD. Parliament will hold a plenary vote on the CSDDD on November 12. We’ll likely see how influential US forces are when amendments are proposed and debated during that process.
Our members can learn more about the CSDDD here.
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