FREE eBook | Supply Chain Due Diligence Act (LkSG)
In January 2023 a new German law, known as the Supply Chain Due Diligence Act (LkSG, short for Lieferkettensorgfaltspflichtengesetz in German), becomes effective and applies to companies operating or trading in Germany. This eBook looks at the key issues in the Supply Chain Due Diligence Act.
The Supply Chain Due Diligence Act requires businesses to undergo significant efforts in order to achieve compliance. The law introduces a legal requirement for businesses to manage social and environmental issues in their supply chains, through more responsible business practices. We’ve compiled more details on the act in our FREE ebook that can be downloaded now!
What is The Supply Chain Due Diligence Act All About?
In Part 1 of this eBook, we will provide a first outline of the Act’s material contents and an in-depth analysis of the applicability of the Act to various corporate structures.
The eBook is the collection of a series of articles in which we will take a closer look at key issues. It addresses the question of what you can do to adequately prepare yourself at this early stage rather than wait till later in the year. We would be happy to provide you with individual advice, as well. Please do not hesitate to contact us.
Preparatory Actions for Supply Chain Due Diligence Act
In Part Two of the Playbook, we’ll explore what preparatory actions you can take and how an effective risk management plan can be achieved and implemented through several services including due diligence.
Global integrity due diligence investigations provide your business with the critical information it needs in making sound decisions regarding mergers and acquisitions, strategic partnerships and the selection of vendors and suppliers. The level of due diligence will ensure that working with a potential i.e. trade partner will ultimately achieve your organisation’s strategic and financial goals.
Operating in the international market requires organisations to establish partnerships with numerous third parties, which supply raw materials, run business operations abroad and/or act as agents. At the same time, third parties are considered as the greatest area of bribery risks for international enterprises. Under the Bribery Act 2010, British-based organisations have to conduct due diligence on their third parties as the core principle of meeting the adequate procedures requirement.
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