In May, officials in the European Union finalized a sweeping new law that will radically change business activities around the world and, by extension, the societies they operate in. The law, formally titled the Corporate Sustainability Due Diligence Directive , will not only apply to companies that are based in the European Union, but also to businesses headquartered in other countries that provide products and services in the EU.
Most importantly, however, is that the law will force these covered companies to impose the EU’s ESG metrics on many of the upstream and downstream businesses in their 'chain of activities,' regardless of how big they are or where they are based.
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