BRUSSELS / LONDON (IT BOLTWISE) – The European Union plans to relax supply chain law, which will only apply to a few large companies. This decision could significantly impact efforts to ensure human rights in global supply chains. The agreement between the EU states and the European Parliament stipulates that the original requirements of the law should only apply to a limited number of very large companies in the future.
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The European Union recently decided to relax supply chain law, which could have a significant impact on human rights compliance in global supply chains. This decision, which was made in Brussels between the EU states and the European Parliament, stipulates that the strict requirements of the law should in future only apply to a limited number of very large companies. This development raises questions about the effectiveness of the law, particularly as smaller companies could be exempt from the regulations.
The original aim of the Supply Chain Act was to strengthen companies’ responsibility for compliance with human rights and environmental standards in their supply chains. However, the planned relaxation could significantly reduce the pressure on companies to comply with these standards. Critics fear this could undermine efforts to improve human rights in global supply chains.
Before the changes come into force, they must be officially approved by the European Parliament and the EU member states. However, this process is expected to be a mere formality as negotiations are based on broad consent. This development could have far-reaching implications for the way companies in the EU manage and monitor their supply chains.
The decision to relax the law could also have an impact on the competitiveness of European companies. While large companies may be able to continue to comply, smaller companies that are exempt from the regulations could gain a competitive advantage. This could lead to an uneven competitive landscape in which smaller companies have less incentive to maintain high standards in their supply chains.
Overall, the planned relaxation of the supply chain law represents a significant change in EU regulation that could have both positive and negative impacts on companies and compliance with human rights. It remains to be seen how these changes will impact the global supply chain landscape and whether they will lead to an improvement or worsening of the human rights situation.
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