13 Amendments of Joachim SCHUSTER related to 2020/2137(INI)
Amendment 7 #
Draft opinion
Paragraph 1
Paragraph 1
1. Reiterates that global value chains are the key feature of the global economy and that trade policy must contribute to a transparent production process throughout the value chain, including subcontracting chains, and demonstrate compliance with environmental, human rights, social and safety standards;
Amendment 13 #
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Acknowledges the recent European Commission study on directors’ duties and sustainable corporate governance that current corporate decision-makers focus on short-term shareholder value maximisation rather than on the long-term interests of the company, and its stakeholders, who aim for long-term environmental and social sustainability of European businesses1a; _________________ 1ahttps://op.europa.eu/fr/publication- detail/-/publication/e47928a2-d20b-11ea- adf7-01aa75ed71a1
Amendment 14 #
Draft opinion
Paragraph 2 b (new)
Paragraph 2 b (new)
2 b. Underlines that the impact of corporate short termism on EU business trading practices in third countries is unsustainable; notes the importance of promoting social sustainability in third countries; stresses that promoting sustainable corporate governance in trade policy has a positive impact on the supply chain, and towards achieving the Sustainable Development Goals, and the Paris agreement targets;
Amendment 23 #
Draft opinion
Paragraph 2
Paragraph 2
2. Emphasises that sustainable corporate governance can help the EU to build a more resilient and sustainable economy, improve the level playing field and protect EU businesses and citizenworkers, and is therefore hugely beneficial to EU trade policy;
Amendment 26 #
Draft opinion
Paragraph 2 c (new)
Paragraph 2 c (new)
2 c. Stresses the importance of coherence between corporate governance structures of EU businesses and EU efforts in dialogue with third countries on responsible business conduct through Trade and Sustainable Development chapters in Free Trade Agreements; notes that a sustainable long-term holistic approach is needed
Amendment 27 #
Draft opinion
Paragraph 2 d (new)
Paragraph 2 d (new)
2 d. Notes that a balanced composition of the Domestic Advisory Groups (DAGs) as well as lessons learnt from their experience as an inclusive structured dialogue could be used as a model for EU corporate structures that takes civil society on board;
Amendment 29 #
3. Notes that the COVID-19 crisispandemic has exposed the vulnerabilities of unregulated global supply chains, andwhich showed that the voluntarily rules are insufficient; especially in the garment sector where production was disrupted during the crisis with negative effects throughout the supply chain; notes that businesses with better environmental, social and governance practices and risk mitigation processes weather the crisises better;
Amendment 39 #
Draft opinion
Paragraph 4
Paragraph 4
4. Notes with concern that less than 1 % of companies publicly list their suppliers, even in high-risk sectors; emphasizes the importance of more transparency in the supply chain to oversee binding environmental, social, and human rights standards; stresses the need for the review of the non-financial reporting directive (NFRD) to greatly increase corporate transparency in the supply chain;
Amendment 50 #
Draft opinion
Paragraph 5
Paragraph 5
5. Stresses that directors’ duties should encompass an obligation to develop, disclose and implement a corporate sustainability strategy for all aspects of the company’s operations, including its supply chains; based on international social, environmental and human rights standards; underlines that consultation with local communities is important;
Amendment 59 #
Draft opinion
Paragraph 6
Paragraph 6
6. Stresses that the requirement to disclose information on how sustainability issues affect the company and how the company affects society and the environment should include the sharing of all relevant information on all actors throughout the entire supply chain; notes that sharing this information is based on the reporting system Non-Financial Reporting Directive (‘NFRD’)
Amendment 64 #
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Notes that as part of the revision of the reporting system Non-Financial Reporting Directive (‘NFRD’) the behaviour of a company in the supply chain has an impact; by extending the scope of the NFRD to the supply chain the impact of sustainable corporate governance will be bigger;
Amendment 65 #
Draft opinion
Paragraph 6 b (new)
Paragraph 6 b (new)
6 b. Underlines the importance of the new taxonomy regulation also in regard to the supply chain; stresses that tackling tax avoidance is a fundamental part of sustainable corporate governance;
Amendment 68 #
Draft opinion
Paragraph 7
Paragraph 7
7. Notes that sustainable corporate governance cannot reach its full potential without due diligence legislation that requires companies to identify, prevent, mitigate and account for human rights abuses and environmental damage in their global value chains; underlines that sustainable corporate governance should not be limited by the present or lack of proper due diligence legislation; asks the Commission to add the sustainable corporate governance and corporate due diligence into the ongoing Trade Policy review.