The purpose of the opinion is to examine the extent to which existing EU company law currently serves as an "expedient" for the politically-desirable Green Deal and which gaps still need to be closed, in particular regarding corporate social responsibility obligations. The opinion will aim at following-up on the European Commission's initiative on due diligence and broadening the debate on sustainable corporate governance interlinking the social, environmental and economic dimensions.
Package on European company law - Related Opinions
Europe is embarking on a transition towards climate neutrality and digital leadership. European businesses can lead the way as we enter this new age, as they has done in the past.
Small and medium-sized enterprises (SMEs) are essential to Europe’s competitiveness and prosperity. Based on the new SME Strategy, the EU will support SMEs by:
- encouraging innovation through new funding and digital innovation hubs as part of the sustainable and digital transitions;
- cutting red tape by reducing barriers within the Single Market and opening up access to finance;
- allowing better access to finance by setting up an SME Initial Public Offering Fund (with investments channelled through a new private-public fund) and the ESCALAR initiative (a mechanism to boost the size of venture capital funds and attract more private investment).
The EESC fully supports the consolidation, codification and thereby simplification of the text of the proposal relating to certain aspects of company law. The EESC would also have wished for a more ambitious exercise that aimed to codify aspects that are still spread across other legislative instruments.