Our March 2017 update provided information on French legislation imposing a new duty of vigilance on French corporates.
The scope of this duty has now been specified so that it is clear which companies will/will not be subject to the new requirements. Our previous post has been updated to confirm that affected companies are -
- Any parent company registered in France and which has employed during the previous 2 years at least:
- 5,000 employees across the parent company and its direct or indirect French registered subsidiaries;
- 10,000 employees across the parent company and its direct or indirect global subsidiaries.
According to the French press, the duty will, therefore, cover approximately 150 of France's largest companies.