Supply Chain Scrutiny: 5 Best Practices for Navigating New Laws & Emerging Ethical Concerns

Resource Third-Party Risk

More than ever, supply chain oversight is critical, whether it be for the sake of consumers, regulators, or employees – each of which want to ensure organizations are acting ethically. On June 21, United States Secretary of State, Antony Blinken, announced that the U.S. Customs and Border Protection (CBP) would begin implementation of the Uyghur Forced Labor Prevention Act (UFLPA) provisions to “prohibit imports made by forced labor into the United States of products made in Xinjiang.” The new Act adds additional scrutiny to global supply chains and seeks to combat forced labor and human rights violations.

 

This is just one of the many ethics-related supply chain issues arising throughout the world. In May, the US SEC introduced two form and rule amendments seeking to enhance and standardize disclosures related to environmental, social and governance (ESG). In Germany, it’s the LkSG for supply chain due diligence, and in the EU, it’s the proposed Corporate Due Diligence Directive.

 

Today, demonstrating that your organization is acting ethically means conducting due diligence, tracing the supply chain, implementing risk-based mitigation measures, collecting evidence, and ultimately, showing which suppliers are safe to work with. Watch this webinar recording to see how organizations are meeting these expectations today and preparing for what’s to come.

Attendees will learn:

  • Best practices for gaining supply chain visibility and conducting due diligence
  • How to implement preventative measures that reduce risk
  • Uyghur Forced Labor Prevention Act (UFPLA) overview and impact
  • US SEC ESG Amendments overview and impact
  • German Supply Chain Due Diligence Act (LkSG) and proposed EU Directive overview and impact
  • Outline of documentation requirements and reporting expectations

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