Multilevel hardening in progress – Transition from soft towards hard regulation of CSR in the EU

Corporate social responsibility (CSR) is gradually undergoing multilevel transformation in the European Union (EU). Hardening of the initially voluntary CSR approach of the EU is progressively taking place in an interaction between the law of the Member States and EU law. Domestic solutions can serv...

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Bibliographic Details
Published in:Maastricht journal of European and comparative law 2021-02, Vol.28 (1), p.83-101
Main Author: Szabados, Tamás
Format: Article
Language:English
Subjects:
Due diligence
Financial reporting
Flexibility
Human rights
Legislation
Social responsibility
Transformation
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Summary:Corporate social responsibility (CSR) is gradually undergoing multilevel transformation in the European Union (EU). Hardening of the initially voluntary CSR approach of the EU is progressively taking place in an interaction between the law of the Member States and EU law. Domestic solutions can serve as a model for EU legislation. In this progress, the Non-Financial Reporting Directive, granting considerable flexibility both to companies and the Member States, can indeed be seen as an intermediate stage and it is expected that, under the impact of human rights due diligence requirements recently imposed on companies by Member States, more substantive obligations will also be introduced at an EU level in the future.
ISSN:1023-263X
2399-5548
DOI:10.1177/1023263X20958379