8 February 2022
We were delighted to discuss the implications of the German Supply Chain Act for global supply chains with over 60 Ukrainian businesses on a webinar on 27 January 2022. The great interest in the law reflects its global impact beyond German borders.
Here are our top 3 reflections from the webinar:
- The law applies to all German companies and foreign companies with a branch in Germany. International suppliers also need to prepare for new contractual requirements from their clients.
- International suppliers could risk losing business if they unable to show they are taking adequate risk management measures. They need to ‘know and show’ how they are addressing human rights in their own operations and supply chains.
- Any changes a company makes to meet the new requirements in Germany, will be a good investment as more regulation is expected. Switzerland have already tightened their requirements with new ‘responsible business’ legislation and changes are also being discussed in the Netherlands and at EU level.
This webinar was the outcome of an excellent collaboration between twentyfifty, Simon Wolfe (Marlow Strategy) and Anton Mifsud-Bonnici. It included contributions from Frank Schauff, Kirill Ermichine, Alexander Markus (AHK Ukraine – German-Ukrainian Chamber of Industry) and Svetlana Mikhaylovska (European Business Association).
Please find the recording here.