LkSG Quick Guide: What You Need to Know About the German Supply Chain Due Diligence Act
As of Jan. 1, 2023, the German Supply Chain Due Diligence Act (Lieferkettensorgfaltspflichtengesetz, or LkSG) will go into effect for any company of 3,000 employees doing business in Germany. Companies will need to implement risk management and due diligence procedures, among numerous other requirements, to demonstrate and maintain compliance. Failure to do so can lead to significant negative consequences.
Download this infographic to understand:
- The scope of LkSG
- How your company will need to adjust
- The repercussions of noncompliance