Summary

Oikeudellinen selvitys yritysvastuulaista 2021 (Legal Review of the Corporate Liability Act 2021) is a report commissioned by the Finnish government to evaluate the feasibility and potential impacts of introducing a new corporate liability law in Finland. The report provides a legal analysis of the key features of the proposed legislation and its potential effects on companies operating in Finland. The proposed Corporate Liability Act would establish a framework for holding companies accountable for certain human rights violations and environmental harms caused by their operations or supply chains. The Act would apply to both Finnish companies and foreign companies operating in Finland. If passed, it will become a legal requirement for companies to comply with the due diligence measures and to be held accountable for certain human rights violations and environmental harms caused by their operations or supply chains. The report concludes that the proposed legislation is feasible and compatible with existing legal frameworks in Finland and the European Union. The report also suggests that the Act would have a significant impact on companies operating in Finland, particularly those in high-risk sectors such as mining, oil and gas, and textiles. Overall, the Oikeudellinen selvitys yritysvastuulaista 2021 provides a comprehensive legal analysis of the proposed Corporate Liability Act and its potential implications for companies operating in Finland. The report highlights the importance of addressing corporate responsibility for human rights and environmental harms, and suggests that the proposed legislation could be an effective tool for promoting sustainable and responsible business practices in Finland.