Swiss government issues counter-proposal to responsible business initiative
The Swiss Federal Council has opened a consultation on a counter-proposal to a popular initiative that calls on companies to respect human rights and protect the environment.
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A first popular initiative on the subject failed at the ballot box in 2020, winning a majority of the people but not of the cantons. To succeed, a popular initiative must be adopted by a double-majority.
A counter-proposal came into force in 2022, obliging multinationals to present a sustainability report in addition to a traditional annual report. According to the authors of the first initiative, this counter-proposal “had no effect”, so they submitted a new responsible business initiative.
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The Federal Council has rejected this initiative, but is proposing an indirect counter-proposal in the form of a special law introducing duties of diligence and transparency, it said in a press release on Thursday. Around 30 large companies would be affected by this proposal, but not small- and medium-sized entreprises (SMEs).
The bill is based on recognised international standards, in particular the provisions in force within the European Union, the government said. The consultation process runs until July 9.
Adapted from French with AI/gw
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