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Peserico Sustainability Actions

Discussed due diligence rules

The article focuses on taking responsibility for what happens in supply chains, from an ESG (environment, social, and governance) perspective. In other words, performing due diligence. The European Union, so far, has mostly opted for a voluntary approach in terms of due diligence process.

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Outlined EU governance proposal

The European Commission is currently working on a proposal for a directive on Sustainable Corporate Governance which will aim to encourage businesses to consider environmental (including climate, biodiversity), social, human and economic impact in their business decisions, and to focus on long-term sustainable value creation rather than short-term financial value.

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Explained supply-chain checks

According to the study, companies taking part in the survey stated that they would prefer mandatory due diligence. This would require them to carry out due diligence to identify, prevent, mitigate and account for human rights or environmental impact within their operations. The approach would be flexible and tailored based on the sector, companies’ activities, type, and size, ensuring a level playing field.

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Referenced EU conflict minerals law

In January 2021, the EU conflict minerals regulation came into effect as a union-wide attempt to regulate supply chains and increase transparency between conflict minerals actors. As of now, EU importers of tin, tantalum, tungsten, and gold will have to carry out checks on their supply chain.

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Referenced timber regulation

In March 2013, the EU introduced the Timber Regulation as part of FLEGT – Forest Law Enforcement, Government and Trade. The aim of the regulation is to reduce illegal logging by making sure that no illegal timber or timber products are sold in the EU.

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Referenced French vigilance law

In 2017, the French government introduced the Duty of Vigilance Law. The law aims at holding businesses accountable for human rights and environmental impact, by identifying and preventing them.

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