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Call us now: +604-222 8915
Mon - Fri: 9:00 - 17:00
Call us now: +604-222 8915 | Mon - Fri: 9:00 - 17:00
Call us now: +604-222 8915
Mon - Fri: 9:00 - 17:00
The new German Supply Chain Due Diligence Act (LkSG) is a landmark piece of legislation that aims to improve human rights and environmental protection in global supply chains. The law, which came into force on January 1, 2023, applies to companies with 3,000 or more employees with their head office, principal place of business, or administrative headquarters in Germany. From 2024, the law will also apply to companies with 1,000 or more employees.
The LkSG requires companies to conduct human rights and environmental due diligence throughout their supply chains. This includes identifying and assessing risks, taking steps to mitigate those risks, and monitoring their performance. Companies must also report on their due diligence efforts to the public.
The LkSG is expected to impact businesses, workers, and the environment significantly. The law will require businesses to invest in new systems and procedures to comply with the due diligence requirements. This could lead to increased costs for businesses, but it could also lead to improved efficiency and risk management.
For workers, the LkSG could help improve health and safety conditions, wages, and working hours. The law could also help to prevent forced labour and child labour.
For the environment, the LkSG could help to reduce pollution and protect natural resources. The law could also promote sustainable production and consumption practices.
The LkSG is a significant step forward in the fight for human rights and environmental protection in global supply chains. The law is expected to positively impact businesses, workers, and the environment.
Here are some specific examples of how the LkSG could impact businesses, workers, and the environment:
Overall, the LkSG is a positive development for businesses, workers, and the environment. The law is expected to impact global supply chains significantly, and it could help make them sustainable and ethical.
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