The objective of the initiative is to ensure the digitalisation of EU company law. In particular, the initiative will aim at enhancing transparency through increased availability of company information at EU level. It should enable the cross-border use of authentic and trustworthy data about companies, also through the application of the once-only principle, and make the existing rules and procedures fit for the digital age.
Package on European company law - Related Opinions
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Democracy at work should cover all workers, types of work, as well as all workplaces, including platform workers. It makes companies more resilient, economically successful and better able to deliver on employment and decent work. Successful forms of democratic participation are also found in the social economy, and cooperatives. European Works Councils (EWCs) could be improved by improving participation rights and sanctioning infringements. More democracy in the world of work depends on cooperation of all stakeholders, and can help ease the green and digital transitions. It is crucial to educate young people in favor of democracy at work.
Reconciling ambitious sustainable and social objectives with an enabling environment for micro, small and medium-sized enterprises
Micro enterprises and SMEs (MSME) in all fields need good conditions to survive the health and economic crisis and unlock their potential so that they can grow and create jobs. This opinion examines alternatives to address the administrative ("paper tax") burden on MSMEs, particularly in view of current transparency and disclosure measures to achieve the EU's social and environmental objectives.
In its own-initiative opinion, the EESC examines 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 aims 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.
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.
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