Don't touch the CS3D: an imperative of responsibility and competitiveness for Europe

On May 19, President Macron's statement referring to a possible sidelining of the directive on the corporate duty of vigilance regarding sustainability (CS3D), alongside other regulations, sent shockwaves with multiple repercussions. While this announcement found a favorable echo among certain economic players gathered under the Choose France banner, it simultaneously provoked strong concern and firm opposition from advocates of responsible entrepreneurship.

For the latter, the transition to a truly sustainable capitalism is not a constraint, but rather a fundamental guarantee of long-term competitiveness, as well as an indispensable strategic transformation in a world facing environmental and social challenges.

Defending a sustainable capitalism

Asserting the necessity of abolishing the CS3D is tantamount to ignoring an increasingly prominent reality: the future of European competitiveness is intrinsically linked to the adoption of a fully sustainable model of capitalism. France, proud of a centuries-old humanist tradition and a pioneer in corporate social responsibility — notably with the adoption of its innovative duty of vigilance law in 2017 — has already demonstrated that its entrepreneurial fabric is, for the most part, ready to embrace this essential transformation. It is this progressive vision, guaranteeing the rights of future generations and the longevity of our economic model, that our political decision-makers must defend and promote with conviction.

France, proud of a centuries-old humanist tradition and a pioneer in corporate social responsibility has already demonstrated that its entrepreneurial fabric is, for the most part, ready to embrace this essential transformation.

This potential U-turn, likely motivated by protectionist considerations and the fear of falling behind economically in the face of international competition less attentive to environmental and social aspects, stands in blatant contradiction with the European and international commitments to which France has nevertheless subscribed (Paris Agreement on climate, Glasgow Pact, United Nations Guiding Principles on Business and Human Rights).

Such a decision would not only risk tarnishing Europe's image and reputation on the global stage in terms of climate and social ambition, but also seriously jeopardize the achievement of its long-term environmental and social objectives. Paradoxically, such regulatory rollback would expose European economic operators even more to litigation related to environmental harm or human rights violations, thereby undermining their legal certainty.

Risk of loss of influence

Renouncing these European initiatives also means depriving oneself of a major geopolitical lever of influence. The European Union's extraterritorial normative power gives it the ability to impose ambitious regulatory standards far beyond its borders, thereby making the duty of vigilance directive a de facto global reference standard.

This normative influence is not only essential to ensure fairer competition for European companies — by avoiding social and environmental dumping — but it also constitutes a fundamental pillar of the EU's sovereignty in the face of the unilateral decisions of other major powers.

In the current geopolitical context, marked by the weakening of multilateralism and the exacerbation of economic tensions, depriving oneself of such a strategic tool appears particularly counterproductive. The CS3D directive is not an obstacle to economic activity, but rather a protective framework, guaranteeing fair competition among all actors, and certainly not an excuse for inaction.

France, like all member states of the European Union, now faces a fundamental choice with profound implications: either continue to work to establish high regulatory standards that also apply to non-European economic actors wishing to access the internal market — thus creating a dynamic of harmonization from above — or succumb to the temptation to lower their own domestic requirements in a vain race for short-term competitiveness, at the risk of sacrificing their environmental and social ambitions and weakening their long-term development model.

Abandoning the CS3D directive would be a strategic mistake with heavy consequences: a renunciation of the fundamental values of responsibility and sustainability that underpin the European project.

A reminder from Switzerland

In the face of these divisions and structural issues, should not the recent historic condemnation of Switzerland by the European Court of Human Rights — imposing positive obligations on it in the fight against climate change — resonate as a powerful warning for the entire European Union? This court decision forcefully highlights the responsibility of states, and by extension that of economic actors, in protecting fundamental rights against environmental threats. It underscores the urgency to act and the need to translate political commitments into concrete and binding measures.

Abandoning the CS3D directive would be a strategic mistake with heavy consequences: a renunciation of the fundamental values of responsibility and sustainability that underpin the European project. It is imperative that European leaders heed the voice of those who believe in a future where economic competitiveness goes hand in hand with social and environmental responsibility — a future in which Europe fully assumes its role as a global leader in ecological transition and the protection of human rights.

Let's not touch the CS3D: it is an essential investment for the future of our competitiveness and our planet.

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