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EU Issues Competition Safe Harbor Guidelines For Sustainability Agreements
June 13, 2023The European Commission recently issued Guidelines “on the competitive assessment of agreements between competitors that pursue sustainability objectives (‘sustainability agreements’).” Recognizing sustainability as a “core principle” of the European Union, the Commission promises “to implement the United Nations’ sustainable development goals.” Noting that the concept of “sustainability” includes climate change, such as the reduction of greenhouse gases, the Guidelines state they are also intended to embrace other economic, environmental and social sustainability objectives, citing labor and human rights as examples. The revised Guidelines are set to take effect in July 2023.
