EU MOVES TOWARDS MANDATORY SUPPLY CHAIN DUE DILIGENCE AND START GEARING UP FOR NEW DIRECTIVE

On 29 April, an article from K & L Gates is concerned with a proposed new law that will introduce far-reaching supply chain due diligence obligations for certain businesses.  The proposed law is the EU Directive on Mandatory Human Rights, Environmental and Good Governance Due Diligence, and the Commission has been tasked with drafting a formal legislative proposal for the Directive, to be presented to the European Parliament in Summer 2021. Whilst the Directive is not expected to come into force until late 2022 or early 2023, companies falling within its scope will need to start gearing up to ensure that they are ready when the new requirements kick in.  The article summarises the aims of the Directive, who it will apply to, what they will need to do to comply, and what the risks will be if they do not do so.  The Directive would apply to large businesses and seek to prevent potential adverse impacts in 3 fields of corporate responsibility: human rights, the environment, and good governance;

https://www.klgates.com/European-Union-Moves-Towards-Mandatory-Supply-Chain-Due-Diligence-Start-Gearing-Up-For-New-Directive-4-29-2021

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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