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Find out if your company is ready for EU regulation on supply chains
On 24 April 2024, following intense discussions, the European Parliament enacted a heavily revised version of the Corporate Sustainability Due Diligence Directive (the CSDDD).
The requirements of the CSDDD will still apply to large EU companies but also to large non-EU companies with significant turnover in the EU. SMEs are not caught directly but may be affected indirectly as part of the value chain of an in-scope company.
The updated CSDDD is subject to the approval of the European Council, and will have to be transposed into national law by Member States after. Don't risk being caught unprepared!
To check whether the CSDDD may apply to your company and how ready your company is to comply with its requirements, click the green button below to access our tool.
The CSDDD marks yet another historic shift from soft law to hard law. This presents a unique opportunity for companies to assess the risks within their supply chains while utilizing this moment to transform and restructure them, embracing sustainability as a necessity to remain competitive.
Dr. Döne Yalçın, Managing Partner Türkiye | Head of ESG/Sustainability Vienna & CEE
Whilst the negotiations brought some relief to market players in scope of the directive, CSDDD still requires corporations and their business partners inside and outside the EU to severely adopt internal processes and introduce tailored but robust human rights and environmental risk management tools.
Dr. Joachim Kaetzler, Co-Head of the ESG Task Force
Applicability of CSDDD*
Scenario 1: EU Company
Scenario 2: Non-EU Company
The CSDDD Navigator will help you to assess* whether:
your company is in a relatively good position to comply with the CSDDD
your company may be preparing, but is currently not quite ready, to comply with the CSDDD
your company is currently not in a position to comply with the CSDDD
In June 2021, BCG and CMS published a White Paper entitled “Managing Supply Chain Risk – A legal and strategic perspective”. In view of the rising number of laws obligating companies to prevent and mitigate risks relating to human rights and the environment in their supply chains, the White Paper provided an overview of selected laws, and offered practical guidance on how to manage such risks. One notable example of national supply chain regulation is the German Supply Chain Due Diligence Act (“German Supply Chain Act”), which was adopted in June 2021 and will come into force on 1 January 2023. The below paper, published in September 2022, is the follow up paper on this topic – we are sharing our practical experience from working with multiple clients across different industries and address what legal and strategic challenges the clients face when managing supply chain compliance. The principal challenges are detailed in the paper, together with the lessons on best practice that we have picked up along the way.
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