Webinar agenda
The 'social' components of ESG start with a company's value system and principled approach to doing business, including labour practices and human rights records and diversity and inclusion. But the "S" aspect of ESG is among least measured in corporate responsibility as social impact is often hard to define, especially as issues such as human trafficking may be hiding far down in the supply chain.
The tide has started to shift in recent years with regulations demanding transparency and corporate accountability. The EU’s proposal on corporate accountability requires large companies that are either based in member states or have a considerable turnover in the EU to identify, prevent and mitigate human rights violations throughout their value chains. Mandatory due diligence will need to be carried out starting January 2023. Meanwhile the Uyghur Forced Labor Prevention Act (UFLPA), effective as of 21 June 2022, bans certain goods produced in the People's Republic of China, especially from the Xinjiang Uyghur Autonomous Region, or Xinjiang from entering the United States as they are presumed to be the product of forced labour.