The CSDDD is here: details of the EU's new Corporate Sustainability Due Diligence Directive
Following years of negotiations among EU institutions and Member States, the EU parliament adopted the Corporate Sustainability Due Diligence Directive (CSDDD or CS3D) on 24 April 2024. The directive was formally endorsed by the Council on 24 May 2024, and expected to be published in the EU Official Journal still in June. Member states will have two years to transpose the new rules into their national laws.
The provisions of the Hungarian ESG law adopted at the end of last year are mostly based on the EU CSDDD framework, so the majority of large Hungarian companies are expected to encounter the following duties well before the EU obligation enters into force. Our summary is worth studying from this perspective too.
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