We are excited to announce that the Research, Analysis, and Strategy Institute (RAS) has been selected by the European Economic and Social Committee (EESC) to conduct a pivotal feasibility study. The study will assess the creation of a public EU rating agency focused on environmental and social sustainability, as well as human rights in the business context.
This significant project will explore several critical aspects, including:
- Defining the agency's scope of responsibility in addressing sustainability and human rights in business.
- Determining which EU regulations the agency will oversee.
- Evaluating whether the agency will provide a single consultation point for stakeholders or offer broader assistance and training for implementing national contact points.
- Developing harmonized European guidelines for corporate due diligence, based on EU legislative requirements.
- Establishing common European public quality standards for accrediting firms conducting audits.
- Assessing whether the accreditation process should be managed at the national level or centralized at the EU level.
- Creating European standards for auditing firms' due diligence systems.
- Monitoring auditing firms' compliance with the new European quality standards.
- Gathering scientific data on key EU legislative acts and maintaining relevant databases, including indicators related to forced labour and human rights violations.
- Reviewing the legal framework to determine the agency's structure.
- Deciding whether the agency will be a new body or integrated into an existing EU agency.
- Drafting an organizational structure and analysing staffing and financial requirements.
- Integrating key stakeholders, such as business organizations, trade unions, civil society organizations, and public authorities, into the agency's framework.
This project is an exciting opportunity for RAS Institute to contribute to shaping the future of sustainability and human rights standards across Europe. We look forward to working with stakeholders from across sectors to develop a robust framework for this potential EU agency.
Stay tuned for further updates as this study progresses!
