Due diligence: Trade committee wants to tighten up

After Lara Wolters (S&D) released her report on corporate due diligence last week, the issue was on the agenda of the International Trademark Association (INTA) yesterday. “We need radical action to change the way companies do business. Companies are not sustainable per se,” Barry Andrews stressed. The Renew MEP is rapporteur for the opinion on the Due Diligence Act. Similar to Lara Wolters (Europe.Table reported), Barry Andrews also calls for a stricter law than the Commission proposes. For example, significantly more companies are to be covered by the regulation, namely companies with 250 employees or more and annual sales of €40 million. In high-risk sectors, companies with 50 or more employees and €700,000 annual sales in the EU should also be subject to due diligence.