We are in the era of Assurance 4.0 – the new era of risk management – and businesses are facing increased requirements to demonstrate supply chain due diligence, partly due to emerging Environmental, Social and Governance (ESG) legislation that are evolving in terms of scope and stringency.
With regulatory frameworks varying across regions, each emphasising different ESG components, compliance is becoming a multifaceted endeavour for businesses operating global supply chains. Furthermore, the stakes for non-compliance are escalating as new laws threaten detained shipments or even confinement as penalties for legislative violations.
Compliance is therefore no longer a means for sustainability marketing but is a clear necessity to prevent supply chain disruptions, financial burdens, not to mention reputational damage.
With this guide, we aim to simplify the nuances between due diligence laws, offering businesses an overview of regulations by region, the specific requirements for each, how to alter your current program to comply, as well as how to prepare for the future regulatory landscape.
