New interactive tool designed to show country-specific supply chain regulations

It maintains that the data will inform global businesses looking to comply with environmental, social, and governance (ESG) standards worldwide and that it will help them to mitigate unknown risks emerging from this.

As new supply chain due diligence regulations – such as the EU’s Corporate Social Responsibility Directive (CSRD) – continue to evolve, global businesses face the challenge of staying up to date with regional legislation and the implications for their operations, said the firm.

“Our responsible sourcing regulation map​ offers a clear view into the intricate web of supply chain due diligence regulations. It will serve as a vital tool for business leaders and senior management, enabling them to make informed operational decisions while remaining fully aware and compliant with diverse, fast-changing regulations across nations,” remarked Kevin Franklin, LRQA advisory MD.

Most companies are under-equipped to respond to the unpredictability of market volatility and global events that further impact the supply chain ESG risk landscape, claims the assurance provider.

Real-time updates

The tool, it continued, features real-time updates on active and upcoming legislation, providing a comprehensive breakdown of the most significant supply chain due diligence regulations impacting businesses worldwide; the map shows the due diligence landscape in at least 18 countries, highlighting nearly 30 regulations that are either in effect or proposed.

“These regulations are specifically related to supply chain due diligence and understanding and complying with these laws are crucial for sustainable growth and success. Interestingly, countries that have weaker due diligence laws such as the USA, China, India, Brazil, and Mexico have been found to be at a higher risk for supply chain violations.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts