Adoption of the new Corporate Sustainability Reporting Directive (CSRD) and the Responsible Supply Chain Management Act (LkSG).
The EU Sustainability Reporting Directive, also known as the Corporate Sustainability Reporting Directive, or CSRD for short, has now been adopted by the European Parliament on Nov. 10, 2022. In June 2022, the representatives of the European Council and the European Parliament reached political agreement on this. This clears the way for implementation, and affected companies are already in full preparation mode.
On March 3, 2021, the German federal cabinet approved a draft law on corporate due diligence obligations in supply chains. This is the Supply Chain Due Diligence Act, commonly referred to as the Supply Chain Act (LkSG). It was set to take effect on January 1, 2023 and is implemented by the Federal Office for Economic Affairs and Export Control (BAFA). The goal is to help prevent human rights violations in supply chains by requiring companies to analyze their full supply chain, identify risks, and take corrective action.
Now it’s your turn. Reporting obligation will apply to more than 15,000 companies in Germany from 2025 onward. You can download all information with one click here.
Uwe Schäfer
Expert Supply Chain Excellence