In today’s complex global marketplace, many companies operate without a clear understanding of the human rights risks lurking within their supply chains. To better grasp the risks, companies often make use of traditional compliance audits – a process that is too often a simple checkbox (or tick-box) exercise. True risk management requires moving beyond traditional models to develop a concrete, nuanced understanding of how labor violations can emerge at every tier of production—from raw material extraction to final assembly.
The European Union (EU) reached a historic deal on the Corporate Sustainability Due Diligence Directive (EU CSDDD). For the first time, large companies and those in high-risk sectors will be required to implement risk management systems to address their adverse impacts on people, communities, and the environment if they wish to do business in the EU market.
Recently in Osaka-Saki, Japan, the G7 Trade Ministers convened to discuss key issues affecting the global trading system and the topic of fishing subsidies was high on the agenda. Each year, governments worldwide provide an estimated $35.4 billion to subsidize their fishing fleets and over 60% of these subsidies go to commercial fishing that contribute to depletion of the world’s fish stocks. The G7 Ministers pledged to work on additional provisions to the historic agreement struck last year by the World Trading Organization (WTO) to reform fishing subsidies. The call for action was to seek greater alignment with Sustainable Development Goal 14.6, which addresses overfishing and Illegal, unreported, and unregulated (IUU) fishing.
Working to End Forced Labor for Cotton Workers in Central Asia | New report on forced labor goods and Department of Defense (DOD) commissaries and exchanges | Commission sets out strategy to promote decent work worldwide | More than 2 billion workers make up the informal economy
Verité is active on many fronts to bring our labor rights experts together with those protecting the natural environment. We believe strongly that supply chain “sustainability” is best pursued holistically with the needs of people, communities, and ecosystems considered and approached in complementary ways. One significant effort has been our participation in the Accountability Framework Initiative (AFi).
