Prohibition of Products Made with Forced Labour on the EU market

Published 27 October 2022

PrintCategory: Impact and ESG

The European Commission has proposed a prohibition on making products made with forced labour available on the EU market as well as exporting such products from EU. The proposal will not be aimed at specific companies or industries, and all products will be within the scope of the prohibition. Further, it will apply to both imports, exports and products made within the EU, manufactured by any natural or legal persons.

The proposal introduces a two-phase investigation process with a preliminary phase and an actual investigation phase of concerned companies and products. If products are found to have been made with forced labour, national authorities shall adopt a decision containing a prohibition to make the product available and to export it as well as an order forcing the economic operators to withdraw the product. National authorities shall use a risk-based approach and focus their enforcement efforts on areas where it will have the best effect.

The proposal shall be seen in connection with the proposal for a Directive on Corporate Sustainability Due Diligence (CSDD) adopted by the European Commission in February. The CSDD Directive will set a framework to promote companies’ contribution to the respect for human rights and environment. Read more about the CSDD Directive at Mazanti Pulse.

The proposal is available here.


Other updates

18 Oct 2024Financial RegulationUpdates

The NIS2 Directive now applies to designated IT suppliers to financial companies as appointed by the Danish FSA

As of today, the NIS-2 Directive (“NIS2”) applies to the most important IT suppliers to the financial sector.

DORANIS2
10 Sep 2024Impact and ESGUpdates

National versions of guidelines on funds’ names now published

On 21 August 2024, the European Securities and Markets Authority (“ESMA”) published their guidelines on funds’ names (the “Guidelines”) in versions translated into all the official EU-languages.

ESMASustainability
19 Aug 2024Impact and ESGUpdates

Registration of “sustainability auditors” is now possible

On 1 June 2024, the new rules on requirements to companies’ sustainability reporting (entailed by CSRD) entered into force.

CSRDSustainability
14 Aug 2024Impact and ESGUpdates

Measures to support corporate sustainability reporting

In July, the European Securities and Markets Authority (“ESMA”) published measures to support corporate sustainability reporting.

CSRDESMAESRSSustainability
13 Aug 2024Impact and ESGUpdates

ESMA opinion on sustainable investments: Facilitating the investor journey

On 24 July 2024, the European Securities and Markets Authority (“ESMA”) published an opinion: “Sustainable investments: Facilitating the investor journey – a holistic vision for the long term” setting out ESMA’s long-term vision on the functioning of the Sustainable Finance Framework.

ESMASustainability
31 Jul 2024Impact and ESGUpdates

Thematic review of pension funds subject to SFDR article 8

The Danish Financial Supervisory Authority initiated an inspection of three pension funds’ disclosing pursuant to SFDR article 8 in November 2023.

ComplianceDisclosure RequirementsSustainability