{"id":19723,"date":"2022-10-04T09:55:53","date_gmt":"2022-10-04T09:55:53","guid":{"rendered":"https:\/\/crigroup.com\/?p=19723"},"modified":"2024-01-15T08:33:03","modified_gmt":"2024-01-15T08:33:03","slug":"whats-your-plan-of-action-for-mandatory-due-diligence","status":"publish","type":"post","link":"https:\/\/crigroup.com\/ar\/whats-your-plan-of-action-for-mandatory-due-diligence\/","title":{"rendered":"What’s Your Plan of Action for Mandatory Due Diligence?"},"content":{"rendered":"

There is growing momentum among governments all over the world that calls for Mandatory Due Diligence. This requires companies to undertake human rights and environmental due diligence. We now have the French Duty of Vigilance Law<\/a>\u00a0and the adoption in 2021 of new laws in\u00a0Germany<\/a>\u00a0and\u00a0Norway<\/a>\u00a0to the publication of a\u00a0proposal for an EU-wide law in 2022, all moving in this direction. Major investors and companies are also speaking out in favour of such legislation, according to business-humanrights.org<\/a><\/p>\n

Corporates will not be allowed anymore to focus on short-term benefits at the expense of long-term sustainable value creation. Environmental and social interests will also need to be fully woven into business strategies of the corporates.<\/p>\n

Improving Commitment to Mandatory Due Diligence<\/h3>\n

Corporates are bound to get in line with human rights due diligence guidelines, as prescribed by the UN Guiding Principles on Business and Human Rights. Yet very few actually comply with the standards and nearly half of the biggest companies in the world\u00a0analysed in the latest Corporate Human Rights Benchmark<\/a> could not produce any proof of mitigating human rights issues in their supply chains.<\/p>\n

The KnowTheChain<\/a> benchmarks showed companies scoring a poor 29% for their human rights due diligence efforts — something that mandatory human rights and environmental due diligence laws seek to address.<\/p>\n

For these laws should to be effective, a few important factors need to be factored in, such as a due diligence obligation for businesses across their global value chains; an effective and safe stakeholder engagement; mandatory requirements that go beyond routine check and audits, a thorough look at irresponsible business models and purchasing practices, and strong civil liability enforcement.<\/p>\n

BOOK A MEETING<\/a><\/p>\n

We can help with Mandatory Due Diligence<\/h3>\n

The CRI Group\u2122<\/a> has developed a highly specialised assessment solution for Corporate

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(3PRM\u2122)\u0625\u062f\u0627\u0631\u0629 \u0645\u062e\u0627\u0637\u0631 \u0627\u0644\u063a\u064a\u0631<\/div><\/a> to assist organisations in accurately identifying, preventing, mitigating and addressing actual and potential adverse impacts of affiliating with global partners and complies with all EU mandates.<\/span><\/p>\n

From enhanced due diligence to identify non-compliance of the regulatory framework and damaging environmental allegations to investigating company (or stakeholder) human rights violations related to labour laws, child labour or human trafficking, CRI Group experts help determine the legal compliance, financial viability, and integrity levels of outside partners and suppliers affiliated with your company’s value chain.<\/span><\/p>\n

The Benefits of Compliance<\/h3>\n

Recent studies have demonstrated a positive correlation between the extent to which companies implement environmental, social and good governance policies, and their overall economic performance, all while contributing to a more stable global marketplace. Such responsible business conduct will:<\/span><\/p>\n