EU adopts rules banning products made with forced labor Council of the European Union #sustainability #forcedlabor #modernslavery #humanrights #ESG
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?? A Milestone for Human Rights: EU Bans Products Linked to Forced Labor The EU’s adoption of regulations banning products made with forced labor is a groundbreaking step in advancing global human rights and sustainability. With 27.6 million people currently enduring forced labor worldwide, this legislation targets systemic exploitation across industries. By empowering authorities to investigate, remove, and penalize products linked to forced labor, the EU is sending a clear message: ethical supply chains are non-negotiable. This regulation isn’t just compliance—it’s a paradigm shift for global trade, impacting domestic goods, exports, and imports alike. Notably, firms failing to comply will face fines, while transparent remediation will allow products back on the market. This decisive move strengthens the role of ESG in business accountability. By mandating a Commission-led list of high-risk sectors and regions, and establishing a dynamic database, the legislation ensures precision and scalability in enforcement. However, the success of this policy hinges on corporate vigilance and proactive measures to eliminate forced labor from supply chains. With the global forced labor market valued at over $150 billion annually, this regulation sets a precedent for other economies to follow. It’s a bold reminder that sustainable trade is not just aspirational—it’s actionable. ?? Time for global businesses to act. Let’s build ethical, inclusive economies. #ForcedLabor #HumanRights #ESG #Sustainability #ModernSlavery #GlobalTrade #EthicalSupplyChains #CorporateResponsibility #ImpactInvesting #EURegulations
EU adopts rules banning products made with forced labor Council of the European Union #sustainability #forcedlabor #modernslavery #humanrights #ESG
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?? EU Forced Labor Regulation Officially Adopted by the European Parliament - Next stops: formal adoption by the Council and publication in the Official Journal. ?? Soon, the EU will have its own tools to fight products made with forced labor. ?? Want to know more about these tools? Check out our Mayer Brown Insight for an overview of what to expect: ?? https://lnkd.in/eTgdeQUg #compliance #forcedlabor
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The #EuropeanUnion has taken a decisive step in combating forced labor with the adoption of the #ForcedLaborRegulation (FLR). This landmark law bans the sale of products in the EU market that are made with forced labor, holding corporations accountable for abuses in their supply chains. Transparentem applauds this important step forward to protect workers and promote accountability. We are hopeful that effective enforcement of the FLR will drive real, lasting change for workers around the world.? Learn more here: https://lnkd.in/eK-kvACn #BizHumanRights #LaborRights #LabourRights #CorporateResponsibility #SupplyChain?
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BLOG | #HumanRights #Forcedlabour is a serious human rights violation. It can involve workers being subjected to #violence, #intimidation, and other forms of abuse. It can also have a devastating impact on workers’ health and well-being. Earlier in March, the European Union (#EU) provisionally agreed to ban the import of products made with forced labour. The agreement is the result of years of work by the EU and its member states. It is designed to address the growing problem of forced labour in global supply chains. More in this article ?? #BizHumanRights #CorporateSustainability #RiskManagement
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The EU is taking a bold stand against human rights violations by introducing its groundbreaking Forced Labour Ban Regulation. With the final approval expected this autumn, businesses of all sector and sizes will soon need to ensure their global supply chains are free from forced labour or face severe penalties. In our latest article, our experts dive deep into this transformative policy, covering topics like: ?? What is the EU Forced Labour Regulation and why it matters ?? Understanding forced labour and how to identify it ?? Key aspects of the new law and its investigation procedures ?? Strategic recommendations to ensure compliance Stay ahead of the curve and read the full article now! What are your thoughts on this new legislation? Let us know in the comments ?? https://lnkd.in/eJ7hFZwj #sustainability #publicaffairs #europeanunion #greentransition #euparliament #humanrights
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The EU is taking a bold stand against human rights violations by introducing its groundbreaking Forced Labour Ban Regulation. With the final approval expected this autumn, businesses of all sector and sizes will soon need to ensure their global supply chains are free from forced labour or face severe penalties. In our latest article, our experts dive deep into this transformative policy, covering topics like: ?? What is the EU Forced Labour Regulation and why it matters ?? Understanding forced labour and how to identify it ?? Key aspects of the new law and its investigation procedures ?? Strategic recommendations to ensure compliance Stay ahead of the curve and read the full article now! What are your thoughts on this new legislation? Let us know in the comments ?? https://lnkd.in/e8aCzH6H #sustainability #publicaffairs #europeanunion #greentransition #euparliament #humanrights
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?? EU Forced Labour Regulation Enters into Force – Key Points That Every Company Needs to Know The EU Forced Labour Regulation (2024/3015) was formally adopted by the EU Council on 19 November 2024 and published in the Official Journal on 12 December 2024. The Regulation enters into force today, 13 December 2024, and its obligations will take effect after a three-year transition period on 14 December 2027. The far-reaching Forced Labour Regulation bans products made with forced labour from the EU single market and marks the latest addition to a series of EU laws requiring transparency, supply chain due diligence, and respect for human rights for businesses operating within the EU. ? Our ESG expert Riikka Kuha has written a blog post about the topic, which is available in Finnish on our website. ?? #ESG #EU #ForcedLabourRegulation
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ESG regulation keeps on coming. Thanks to my colleague Riikka Kuha, those reading Finnish will find below a 7-point-summary on the latest piece, being the EU Forced Labour Regulation. For those having time for only one point (or struggling with the language), to me it would (once again) be the following: ”Compliance with the Regulation requires that a company knows its supply chain. / Asetuksen noudattaminen edellytt?? yrityksilt? toimitusketjunsa tuntemista.”
?? EU Forced Labour Regulation Enters into Force – Key Points That Every Company Needs to Know The EU Forced Labour Regulation (2024/3015) was formally adopted by the EU Council on 19 November 2024 and published in the Official Journal on 12 December 2024. The Regulation enters into force today, 13 December 2024, and its obligations will take effect after a three-year transition period on 14 December 2027. The far-reaching Forced Labour Regulation bans products made with forced labour from the EU single market and marks the latest addition to a series of EU laws requiring transparency, supply chain due diligence, and respect for human rights for businesses operating within the EU. ? Our ESG expert Riikka Kuha has written a blog post about the topic, which is available in Finnish on our website. ?? #ESG #EU #ForcedLabourRegulation
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On 19 November 2024, the EU formally adopted the Forced Labour Regulation, prohibiting products made with forced labour from being sold on the Union market from the end of 2027. This new law reinforces the EU's focus on supply chain transparency and due diligence. Read our latest alert here. https://ow.ly/ueVO50Ujr21
No product is worth more than human rights. Our message to smart businesses: you need to be making sure your value chain cares as much about the S in ESG as about the E and the G.