Introduction of New Due Diligence Obligations on ESG Matters That May Affect German Companies and International Organizations Based on Their Business Activities in Germany
SUMMARY
On January 1, 2023, the German Act on Corporate Due Diligence Obligations in Supply Chains (Lieferkettensorgfaltspflichtengesetz – the “Act”) came into effect. The Act requires certain German companies and foreign companies with business activities in Germany to implement, observe and disclose due diligence procedures to ensure compliance with fundamental human rights and certain environmental standards…
