As we enter year three of the COVID-19 pandemic, and with the threat of war looming over Europe, protecting people and the planet is not a nice-to-have, it is a must. A consensus is growing: business has a duty to respect human rights, even when and where states waver in their responsibilities to safeguard workers, communities and our natural environment.

Next week the European Commission is expected to release a draft of standard-setting legislation on sustainable corporate governance, designed to ensure that human rights and the environment are respected throughout EU-based companies’ value chains. In spite of multiple delays, this could be a game-changing moment for corporate accountability — provided the EU meets the high ambitions it set for itself two years ago. As EU Justice Commissioner Didier Reynders said in April 2020, it’s time “to make sure that responsible business conduct and sustainable supply chains become the norm.”

Read the full commentary on the World Economic Forum's website