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Supply Chain Due Diligence – EU to adopt new legislation based on German law

2024-04-03 09:10:00

Suppliers must meet stringent environmental and human rights requirements. We will explore experience in Germany and the expected changes in the EU with German and Hungarian professors and representatives of AUDI and the German-Hungarian Chamber of Industry and Commerce at the 2024 DSG Professional Day.

Budapesti Corvinus Egyetem

Germany’s Supply Chain Due Diligence Act, effective from January 2023, has brought a change to the Hungarian suppliers of German companies. The European Commission is already discussing the proposed Corporate Sustainability Due Diligence Directive (CSDD), which would extend the German law to all EU member states. CSDD establishes a due diligence duty for companies regarding their operations, as well as the operations of their subsidiaries and the long-term members of their value chain, covering direct and indirect suppliers. Companies subject to the Directive will have to identify, prevent and bring an end to negative environmental and human rights impacts with regard to their operations and the activities of their subsidiaries and companies in their value chain (their suppliers). If the measures taken are not effective, companies may be required to pay damages. 

Large corporations like AUDI have 15,000+ suppliers in dozens of countries. How can they comply with the provisions of the new legislation? What has the Hungarian subsidiary learned from the parent company’s experience? What does the legislation mean for Hungarian suppliers, how is cooperation affected by the new German law and how will it be affected when the EU Directive is adopted? Will the Supply Chain Due Diligence Directive improve or curb the EU’s competitiveness? 

Corvinus University’s German economics programme (DSG) is hosting a professional day again in 2024, inviting various experts to explore supply chain management issues, with a focus on the already adopted German legislation and the soon to be adopted EU Directive on supply chain due diligence 

Date: Wednesday, 10 April 2024, 3pm-7pm 

Venue: Corvinus University of Budapest, Faculty Club  

Further information: https://www.uni-corvinus.hu/post/event/dsg31-fachtag-supply-chain-management-the-german-experience-and-eu-legislation/?lang=en  

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GEN.:2024.04.19. - 16:16:39