Increased due diligence in supply chains, non-financial reporting for large companies and increased due diligence regarding conflict minerals and child labour: these are the new challenges that large Swiss companies will have to face from 2022.
The vote on 29th November 2020 automatically adopted the indirect counter-proposal to the Corporate Responsibility Initiative. This means that large companies will be subject to a more in-depth due diligence obligation from 2022. They will then have to account for environmental and social issues as well as measures to prevent corruption within the framework of non-financial reporting.
The challenges are enormous. Compliance professionals and decision makers are faced with the question how much additional workload this might trigger and whether their existing processes and tools will be sufficient. Given the complexity of value and supply chains, especially in high-risk countries, companies better start now to assess their supply chain risks and build effective risk management.
For many compliance departments the ‘secret sauce’ will be the smart combination of quality-checked company data with lean tools which ease day-to-day routines rather than making them more complex. This way suppliers and multi-level supply chains can clearly be identified and checked for compliance risks.
In a joint webinar, the renowned law firm Agon Partners will give you a legal overview of the new requirements of the counter-proposal as well as an update on the current state of implementation. Afterwards, Bisnode Dun & Bradstreet and SHS Viveon will present a solution on how data-driven automated processes can support you in mastering the new requirements.