Why is the Commission presenting this initiative? The transformation to a sustainable economy is a key political priority of the EU. It is essential for the wellbeing of our society and our planet. Companies play a key role in creating a sustainable and fair economy and society but they need support in the form of a clear framework. EU-level legislation on corporate sustainability due diligence will advance the green transition, and protect human rights in Europe and beyond. In addition to...

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Today, the European Commission has adopted a proposal for a Directive on corporate sustainability due diligence. The proposal aims to foster sustainable and responsible corporate behaviour throughout global value chains. Companies play a key role in building a sustainable economy and society. They will be required to identify and, where necessary, prevent, end or mitigate adverse impacts of their activities on human rights, such as child labour and exploitation of workers, and on the environment, for example pollution and...

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'In exceptional times, monetary finance may provide helpful policy support but there are risks.' The severe economic challenges posed by the global financial crisis, and more recently the pandemic, sparked a debate on whether central banks should expand their unconventional monetary policy toolkit to include monetary finance—the financing of government via money creation. Monetary finance is often associated with Milton Friedman’s metaphor of a helicopter dropping money from the sky. Reflecting on the role of monetary policy during the Great...

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"Check against delivery" Good morning. It is a pleasure for me to take part in this joint ECFIN-EESC conference on the way forward for the EU's economic governance framework. This event forms part of our effort to engage in a wide-ranging and inclusive debate on the economic governance review with all stakeholders. We have taken good note of the very useful European Parliament resolution of July 2021 that Ms Marques coordinated. We have also paid close attention to the own-initiative opinion of the...

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