On 17 December 2020 the European Parliament adopted a resolution on a strong social Europe for just transitions. With 380 votes in favour, the Parliament manifested its support for social sustainability as a fundamental prerequisite for fair and inclusive green, digital and demographic transitions.
Quite remarkably, the European Parliament also supported the ETUC’s essential demands. Among other demands, it took up the ETUC’s call on a new EU framework on information, consultation and board-level representation as well as its call for sustainable corporate governance.
In paragraph 29 & 30, the report states:
29. Calls on the Commission to introduce a new framework directive on workers’ information, consultation and participation for European company forms, including subcontracting chains and franchises, and for companies that use European company mobility instruments, in order to establish minimum standards including on anticipation of change and restructuring, in particular at company level; also calls for a revision of the European Works Council (EWC) directive to ensure inter alia proper enforcement, access to justice and effective sanctions for violation of the rules and improve the functioning of the special negotiating body, including a transnational information and consultation process, to be properly conducted and completed before any decisions are taken; calls on the Commission to promote employee share ownership, as a tool to enhance the inclusion of workers by improving democracy at work, while reducing inequality as well as the risk of job losses during downturns;
30. Calls on the Commission and the Member States to establish the necessary conditions and requirements in order to have at least 80 % of corporations covered by sustainable corporate governance agreements by 2030, establishing strategies agreed with workers in order to positively influence environmental, social and economic development through governance practices and market presence, improve directors' accountability as regards integrating sustainability into corporate decision-making, and promote corporate governance practices that contribute to company sustainability, with reference inter alia to corporate reporting, board remuneration, maximum wage ratio difference, board composition and stakeholder involvement.