The German Supply Chain Act will come into force in Germany on 1 January 2023 and will be applied to corporations and partnerships that employ more than 3,000 employees. From 2024 it will be applied also to companies with more than 1000 employees. In the future, more countries will follow the global need of protecting the environment and human rights.
The requirements include Risk Management based on the principle of proportionality (assessing the risks and managing them), preventing, minimizing, and remedying negative impacts, establishing a grievance mechanism for misconduct regarding human rights and environmental standards, and documenting their compliance with the due diligence requirements.
For additional information do not hesitate to consult our additional material on the German Supply Chain Act: German Supply Chain Act
Is your organization ready to establish a strategy in compliance with the German Supply Chain Act? At Sourcing Champions, we can assist you.