Per the Paris Agreement, emissions must hit net zero by 2050. The new German Supply Chain Due Diligence Act (LkSG) requires the implementation of a risk management system to tackle that goal and other social and environmental issues.
How will this inspire new legislation in the EU? Anastasiia Omelchuk, a top supply chain consultant in Corporate Sustainability at Miebach, joins us to discuss what the German law will actually mean in the field.
Anastasiia is closely monitoring data on reactions to the coming regulations. She believes businesses need to change their perspective, especially those in high-impact industries like fashion, agriculture, and minerals.
Anastasiia encourages smaller firms to develop an action plan now to combat the fear that larger entities will "push the responsibility upstream." She's also seen quite a lot of optimism from brands that have taken the lead in sustainability for years.
German companies are well-positioned to enjoy the benefits (and marketability) of more agile supply chains before other countries in the EU.