
As part of the European Green Deal and the European Commission’s (EU) Communication on the (COVID-19) Recovery Plan, the EU has invited stakeholder comments during a public consultation to inform consideration of a possible EU Sustainable Corporate Governance Initiative. USCIB has submitted its comments on February 9, drawing on the expertise of its Committees on Corporate Responsibility and Labor Affairs and Environment.
According to USCIB Senior Vice President for Policy and Global Strategy, Norine Kennedy, the consultation took the form of an online questionnaire, seeking feedback on numerous elements of ESG, and exploring what form an EU-wide framework to promote due diligence, board of directors’ duty of care and stakeholder engagement should take.
USCIB comments highlighted the fundamental importance of the UN Guiding Principles. USCIB set out U.S. business concerns about any promulgation of rigid approaches, such as the application of tariffs, sanctions or import restrictions that rightly seek to address human rights or labor rights concerns but – due to their rigidity – inadvertently create a disincentive for long-term supply chain engagement, the use in accordance with the UNGPs of leverage in company supply and value chains, and sustainable remediation.
“We would welcome an EU approach to these issues that would include sustainability risks, impacts and opportunities into corporate strategy and decisions, as many companies already have,” added Kennedy. “However general principles would be preferable over rigid legal requirements. Flexibility afforded to each company to decide how to include such considerations would be crucial for such general principles to be effective.”
USCIB also encouraged the EU to pursue a fuller holistic dialogue with business and other stakeholders on how to advance sustainable corporate governance in environmental and social areas.
“We support the role business can and should play in respecting human rights” said USCIB Vice President for Corporate Responsibility and Labor Affairs Gabriella Rigg Herzog. “We strongly encourage the EU to gather business and other stakeholder views through actual dialogue and consultation, with due attention to context, such as ongoing impacts and burdens on companies because of the pandemic’s economic disruption and ongoing constraints, as well as existing business initiatives and systems.”
USCIB will continue to follow and stay in close contact with U.S. government and EU authorities as these deliberations go forward.




The United Nations held a sixth
Co-creating a U.S. climate plan to restore economies and to deploy American innovation globally
USCIB joined with several other associations, including the U.S.-China Business Council, the National Retail Federation and the U.S. Chamber of Commerce, among others,
USCIB co-organized the twelfth annual Engaging Business Forum on Human Rights on October 7, however due to COVID-19 precautions, the usual two-day forum was condensed into a virtual event. Hosted by The Coca-Cola Company every year since 2008, the Forum has gathered hundreds of practitioners to discuss leading issues at the intersection of business and human rights. Despite the virtual nature of the forum, this year was no different in terms of interest and engagement by over 500 leading practitioners.
What is your vision for your team regarding UN engagement, particularly on over-arching UN-wide efforts to respond to COVID-19 and a sustainable and resilient recovery?