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The opinion intends to contribute to the design of the EU regulation on critical raw materials and to its follow-up, and could influence the political and economic decisions to be taken at EU level in the new geopolitical context.
This Directive will set out a horizontal framework to foster the contribution of businesses operating in the single market to the respect of the human rights and environment in their own operations and through their value chains, by identifying, preventing, mitigating and accounting for their adverse human rights, and environmental impacts, and having adequate governance, management systems and measures in place to this end.
Trade Policy Review - An Open, Sustainable and Assertive Trade Policy
A system of corporate liability for human rights abuses is currently being negotiated in the UN, within the UNHRC’s open-ended intergovernmental working group on transnational corporations and other business enterprises concerning human rights (OEIGWG), established by the UN General Assembly on 26 June 2014. The mandate of the working group is to elaborate an international legally binding instrument to regulate, in international human rights law, the activities of transnational corporations and other business enterprises.
The proposed opinion will look at new approaches to more fairly distributing the burden of transformation towards a sustainable Europe.
The EU acknowledges the increasing importance of including the EU and partner countries' companies in the GSCs. It is also emphasised that the current interdependence of the economies may further increase due to the recently negotiated and implemented EU trade and investment agreements, as well as negotiations at the WTO. The EESC also recommends cooperation between international organisations and other relevant stakeholders. This would include adopting a common language and common definitions of elements related to global value chains, GSCs and decent work, and comparison and assessment of the statistical data between the various stakeholders, such as the OECD, the International Labour Organisation (ILO), WTO, the European Commission, the World Bank and IFM. This should help avoid confusion and misinterpretation, and support elaboration of a coherent policy between diverse public bodies involved.
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