Glossary
Glossary term

industry or multi-stakeholder initiative

A regulatory term referring to a combination of voluntary due diligence procedures, tools and mechanisms, developed and overseen by governments.

1 official sourcessingle_source

What does industry or multi-stakeholder initiative mean?

Industry or multi-stakeholder initiative is the CSDDD term for voluntary due-diligence procedures, tools, and mechanisms developed and overseen by industry, governments, or interested organizations.

Official definitions by source

CSDDD

Directive (EU) 2024/1760 on corporate sustainability due diligence

a combination of voluntary due diligence procedures, tools and mechanisms, developed and overseen by governments, industry associations, interested organisations, including civil society organisations, or groupings or combinations thereof, that companies may participate in in order to support the implementation of due diligence obligations;

Reference: Article 3, point j

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Practical application

This term matters when companies use sector schemes or collaborative tools to support due diligence without treating participation as a substitute for their own obligations.

Minespider commentary

For Minespider, industry or multi-stakeholder initiative is a scheme-governance term for documenting what a collaborative program actually verifies or supports.

Common confusions

  • Assuming the everyday meaning of industry or multi-stakeholder initiative is enough without checking the official source definition.
  • Using industry or multi-stakeholder initiative as a loose generic label rather than the narrower meaning used in the source text.
  • Confusing industry or multi-stakeholder initiative with a neighboring legal actor or responsibility term without checking how the source allocates obligations.