SUPPLY CHAIN DUE DILIGENCE ACT WAS INTRODUCED, WHICH SOON TO BE APPROVED IN EU.
Niels Hegewisch, a researcher at the Friedrich-Ebert Foundation, presented the “Supply Chain Due Diligence Act” to the social partners and representatives of the cashmere industry, which approved in the Federal Republic of Germany on January 1, 2023 and will be applicable in the European Union from 2024.
With the approval of the law, must respect for environmentally friendly production, operations and human rights of all stakeholders involved in the supply chain up to the final product, if human rights are violated, companies will be strictly held accountable by law.
In addition, the company needs to create a culture of partnership, conduct risk assessments for all its activities, including human rights, environmental, and financial activities, and report to the public annually, and follow labor protection and safety regulations. This law was officially implemented in Germany by the a government agency Federal Economic and Export Control Office.
During the event, members of the working group presented the process of “Tariff Agreement” that will be implemented soon in the cashmere sector.
October 26, 2023
