Corporate Sustainability Due Diligence Directive Published in the Official Journal

On 5 July 2024, Directive (EU) 2024/1760 of the European Parliament and of the Council of 13 June 2024 on corporate sustainability due diligence and amending Directive (EU) 2019/1937 and Regulation (EU) 2023/2859 (Text with EEA relevance) was published in the Official Journal of the European Union.

Pursuant to Article 38 of the Directive, it will enter into force on 25 July 2024.

Member States shall adopt and publish, by 26 July 2026, the laws, regulations and administrative provisions necessary to comply with the Directive.

They shall apply those measures:

(a) from 26 July 2027 as regards companies formed in accordance with the legislation of the Member State and that had more than 5 000 employees on average and generated a net worldwide turnover of more than EUR 1 500 000 000 in the last financial year preceding 26 July 2027;

(b) from 26 July 2028 as regards companies formed in accordance with the legislation of the Member State and that had more than 3 000 employees on average and generated a net worldwide turnover of more than EUR 900 000 000 in the last financial year preceding 26 July 2028;

(c) from 26 July 2027 as regards companies formed in accordance with the legislation of a third country and that generated a net turnover of more than EUR 1 500 000 000 in the Union, in the financial year preceding the last financial year preceding 26 July 2027;

(d) from 26 July 2028 as regards companies formed in accordance with the legislation of a third country and that generated a net turnover of more than EUR 900 000 000 in the Union, in the financial year preceding the last financial year preceding 26 July 2028;

(e) from 26 July 2029 as regards all other companies referred to in the Directive.