News from the European Union, including the CSDDD
Bribe, Swindle or Steal
Alexandra Addison-Wrage of TRACE International
4.9 • 582 Ratings
🗓️ 20 March 2024
⏱️ 23 minutes
🧾️ Download transcript
Summary
This week on Bribe, Swindle, or Steal, we listen in on the presentation of Nicola Bonucci, International Lawyer and former Director for Legal Affairs OECD, at the TRACE Forum in Annapolis. Nicola provides context for recent compliance news from the EU and discusses the adoption of the Corporate Sustainability Due Diligence Directive at a gathering of compliance experts just three hours after the news broke!
Transcript
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| 0:00.0 | Welcome back to the podcast, bribes, swindler steel. For today's podcast, we're listening in on the presentation of Nicola Benucci at the Trace Forum in Annapolis last week. |
| 0:16.2 | Nicola will be known to many of you as he was the GC., the General Council of the OECD for many years, |
| 0:21.5 | and has been a regular speaker at Trace Events. Over to Nicola. |
| 0:25.6 | I will try in half an hour to help you understand some of the basics of the European Union, |
| 0:33.1 | in sort of everything you wish to know about the European Union that are never there to ask, |
| 0:39.1 | which is a challenge because I'm still grappling myself after 30 years about it. |
| 0:45.3 | My presentation would be focusing on the CS-3-D, but as you know, which stands for the |
| 0:52.8 | corporate sustainability utilization directive. As you know, which stands for the corporate sustainability utilization directive, as you know, |
| 0:56.2 | this directive has been facing a lot of resistance in the last few weeks, and there is great |
| 1:02.8 | and certain about will it ever adopt. So I prepared a presentation which was trying to respond to various scenarios. |
| 1:13.9 | And I would like to take a bit of a high-level vision first, because I think what you need to understand is not all this is not happening in a vacuum. |
| 1:25.9 | There is a strategy, believe it or not, of the European Union. |
| 1:32.1 | And the strategy is to have the EU playing a global standard setting role. |
| 1:39.4 | It started with GDPR, a bit by accident, |
| 1:42.9 | because I don't think they realized at the time of GDPR that they |
| 1:47.0 | could play a lower standard setting role, but they realized they could. |
| 1:51.0 | And now they are doing this fairly systemic work. |
| 1:57.0 | So, GTPR has now accelerated with also the sanctions policy. |
| 2:03.6 | I mean, when you think about it, it's quite astonishing that the European Union now has coordinated sanctions policy. |
| 2:12.6 | First, because sanctions were not at all a tool used by Europeans in the past, and certainly not in a |
| 2:19.3 | coordinated fashion. The European Union Parliament has adopted a directive to criminalize |
| 2:26.4 | the violation and circumvention of the EU sanctions, and the directive will introduce a common |
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