On 27 and 28 May 2024, UNIDROIT held an Exploratory Workshop for its new project on the development of a legal guidance document on Corporate Sustainability Due Diligence in Global Value Chains, at its seat in Rome.
The Workshop was aimed to further delineate the scope of the project. It gathered a small number of selected experts, including from academia and the private sector, as well as representatives of the Organisation for Economic Co-operation and Development (OECD), the European Bank for Reconstruction and Development (EBRD), the International Development Law Organization (IDLO), and the European Law Institute (ELI).
The project was included in the Institute’s current Work Programme by the General Assembly at its 81st session in December 2022. UNIDROIT had been called upon by both the EBRD and the IDLO to consider this topic in light of its expertise in contract law, seen as a key catalyst for the implementation of sustainability measures. The ELI also suggested to include an assessment of the impact of technology in this context.
The project builds upon the UNIDROIT Principles of International Commercial Contracts (UPICC), which were first adopted in 1994 and are widely considered as one of the most successful international contract law instruments. The UPICC have also served as a basis for the development of several other international contract law-based instruments.