European Union should not tell how to run a business

The European Commission has published an initiative to establish across the union, how companies should be run so that they would be sustainable for a longer period of time and would consider in their activities their impact on the climate, social issues and human rights. In the opinion of the Chamber, there should not be such detailed interference in the management of the EU companies.

According to the initiative, companies would be required to establish rules of procedure for due diligence, establish risks for climate and other areas and stakeholders as well as act in order to prevent such risks. The Chamber has submitted its positions to the European Commission, stating that they do not support the initiative and measures set out therein as they mean additional administrative burden as well as costs for companies. In this case, the costs might seem low at first if we consider the percentage, but if various small costs are added for companies in different areas, the overall picture might become very burdensome for companies.

The Chamber supports the idea according to which companies should be run in a sustainable manner and they should consider their impact of their activities on the environment, but we see that the management and management processes of companies should not be regulated in such detail on the European Union level.