The legal landscape of Business & Human Rights is evolving steadily and rapidly. The German Supply Chain Due Diligence Act (LkSG) has come into effect on 1 January 2023 for companies with 3000 or more employees and will extend to companies with 1000 or more employees from 2024. The Act requires mandatory compliance on human rights due diligence and business integrity for companies headquartered in Germany, and also impacts their current and potential business partners all over the globe.
One of the major compliance requirements and benefits alike is ensuring grievance mechanisms are in place and available across the supply chain. A well-functioning grievance mechanism is crucial for business integrity, compliance, and commercial success alike.
At the same time, the emergence of due diligence requirements creates substantial business opportunities for companies in India under the China Plus One Strategy. Businesses with robust due diligence processes can take advantage of this to improve their sourcing potential.
The Indo-German Chamber of Commerce in cooperation with Alliance for Integrity and Ernst & Young India as a knowledge partner invites the Business Community in Maharashtra to network and exchange on:
- How due diligence processes and grievance mechanisms can support companies in the region to expand their business and sourcing potential in German and European markets
- The challenges and opportunities presented in supply chain integrity and grievance and whistleblowing mechanisms
The event will also mark the regional launch of FairVoice: an Inter-Company Grievance Mechanism designed to support companies in the regulatory requirements under the German Supply Chain Due Diligence Act (LkSG).
Please note: Participation is Free of Cost and by Invitation Only.
The event is part of the initiative carried out by IGCC SustainMarkets and Alliance for Integrity in collaboration with the Business Scout for Developments programme which is funded by the German Federal Ministry for Economic Cooperation and Development (BMZ).