Dr. Döne Yalçın (Managing Partner, CMS Global Turkey), at the 5h Saving Lives Sustainably Global Forum 2022 on 23 November 2022.

1. Dr. Döne Yalçın
Keynote Address: Spotlight on the
regulators: Legal accelerators and barriers
for uptake of sustainability and key
recommendations.

2. INTRODUCTION
"If you make 10,000 regulations you
destroy all respect for the law."
Winston Churchill
"Law is not merely a set of old theoretical
rules based on reason and logic, but
changes according to the needs of time and
place."
Mustafa Kemal Atatürk
"Society cannot exist without law. Law is the
bond of society: that which makes it, that
which preserves it and keeps it together. It
is, in fact, the essence of civil society."
Joseph P. Bradleym

3. Is there an ambivalent relationship between regulation and
deregulation?
How much regulation is necessary and how
much of it stands in the way of progress and innovation?

4. Example for an important piece of regulation: EU Corporate Sustainability Due Diligence
Directive (CSDDD)
− Aims to harmonize law in EU
− To be transposed into national law
− Extraterritorial effect
− Emphasizes responsibilities of directors
− Turnover-based pecuniary sanctions
− Decisions of supervisory authorities on sanctions to be
published (naming and shaming)
− Calls for civil liability, but does not regulate burden of proof

5. Undertakings formed in accordance with the law of a Member State which, during the last financial
year had
❑ on average > 500 employees & worldwide turnover >EUR 150m; or
❑ on average > 250 employees & worldwide turnover >EUR 40m & at least 50% earned in one or
more high-risk sectors
Companies formed in accordance with the law of a third country and had a
❑ Turnover > EUR 150 million in the EU in the financial year preceding the last financial year; or
❑ Turnover > EUR 40 million in the EU in the financial year preceding the last financial year & at
least earned 50% in one or more high-risk sectors
Scope and reach of the CSDDD

6. THANK YOU