9
Nov
2022
Watch
Corporate Sustainability Reporting Directive (debate)
Madam President, Commissioner! Markets are not God-given, but they are legal constructs that we, as legislators, can shape, but also reshape. Markets serve not only to maximise profits, but above all the people on them – as entrepreneurs, as workers, as consumers worldwide. Investors play a particularly important role in shaping markets. You have the money that others need. They have a leverage effect that we can and must take responsibility for achieving human rights, protecting the environment and combating climate change. Money should go to the right activities. That's why taxonomy, that's why disclosure is mandatory for financial service providers, that's why sustainability reporting of companies is now available, so that investors know where to invest safely, so that the result is also sustainable. However: Disclosure is not enough. It must be acted upon. In addition to disclosure, we therefore now need the obligation to act in the EU Supply Chain Act, especially for financial companies, and not only before they have made an investment.