Join us... for an informative session with IBCircle member Juergen Thurner in Germany. What can we learn? Powerful insights for sure!
Background
Germany's Act on Corporate Due Diligence in Supply Chainsis a new federal law that was passed by the Bundestag. It is part of the Civil Code as well as the Commercial Code and will enter into force on January 1, 2023.
It initially applies to all companies based in Germany (head office or branch) regardless of their legal form, with 3000 or more employees.
From January 1, 2024, it will also apply to companies with 1000 or more employees.
The law regulates the due diligence of these companies and their supply chains with regard to the observance of human rights and environmental protection.
In concrete terms, this now means that all companies covered by this law are liable for violations of human rights as well as environmental protection in their own business; that of their direct suppliers; and that of their indirect suppliers.
Due diligence further means that each affected company must (1) designate a responsible person, (2) issue a policy statement, (3) establish a risk management procedure with respect to this law and immediately use it to (4) conduct a risk analysis, (5) define and implement preventive and remedial measures and review their (6) effectiveness, and finally (7) document and report everything.
Discussion Points:
What is this new law?
Who does it impact?
Implications for your business.
Recommendations for action.
About our Speaker:
Juergen Thurner brings 34 years of experience in various senior management positions at companies such as Hewlett-Packard, Sanmina, M-Flex and Flextronics. He is a lecturer in International Operations Management at the European School of Business at Reutlingen University. His core areas of expertise are supply chain design, business process modeling and supply chain sustainability. His other areas of expertise include Industry 4.0 / Smart Factory, the Internet of Things and digital transformation.
