- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2021-05-18T17:26:00
Companies of a certain size with ties to Germany must soon establish robust due diligence procedures to prevent human rights and environmental abuses both within the course of their own business activities and within their global supply chains.
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The U.S. Department of Commerce unveiled a diagnostic supply chain risk assessment tool, which will “utilize a comprehensive set of indicators to assess structural supply chain risk across the U.S. economy,” the agency said.
Companies will need to tighten up how they monitor their supply chains after a recent U.K. ruling determined that corporates could be open to money laundering charges if they fail to act in cases where they believe there is a risk of forced labor.
A U.S. Senate report found three European automakers—Volkswagen, BMW, and Jaguar Land Rover—sold cars in the United States with parts sourced from a supplier suspected of using forced labor from China’s Xinjiang region.
