SUSTAINABILITY IN INTERNATIONAL TRADE:
ANALYSIS OF THE EUROPEAN DIRECTIVE ON THE DUTY OF CARE IN CORPORATE SUSTAINABILITY AND ITS EFFECTS ON INTERNATIONAL CONTRACTS
DOI:
https://doi.org/10.56258/issn.2763-8197.v4n2.p225-246Keywords:
lex mercatoria; arbitration; international contract; sustainabilityAbstract
By means of bibliographical research and analysis of international instruments related to the matter, this article examines legal aspects involving the relationship between international environmental law and international trade, recognizing in the new European Corporate Sustainability Due Diligence Directive yet another normative framework that should impact commercial relations, the international contracts arising from them and, above all, the activity chains of companies, including foreign companies, operating in the European Union. In this sense, having analyzed the notion of lex mercatoria since its beginnings, it was found that the interweaving of legal orders at different levels, including supranational ones, as is the case with the Directive, and the intervention of international bodies specializing in international trade, have a significant effect on international contracts, causing the resulting disputes, especially in environmental matters, to be referred to arbitration courts. Next, the main points of the European Corporate Sustainability Due Diligence Directive are analyzed, as well as its role in meeting sustainability goals.
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