This CLE course will discuss the potential environmental, social, and governance (ESG) issues posed by suppliers in increasingly complex supply chains that can increase reputational risks to an organization. The panel will address legal requirements in the U.S., EU, China, and other countries, as well as the privacy compliance issues.
ESG helps investors grasp a business' sustainability and societal impact to determine a company's current valuation and future performance, maximize profits, and prioritize a sustainable supply chain for long-term growth. ESG points to a fundamentally new way of doing business.
From an ESG perspective, the supply chain represents the largest potential ESG risk for most companies--and the area of most significant benefit. While digital supply chain platforms have disrupted many parts of the economy, most large businesses procure and source as they have for decades.
Companies and their counsel have several options after determining ESG compliance problems. Companies should work through their supply chain to ensure compliance and support supplier sourcing decisions. A major consideration in supplier selection and negotiation is their risk level in corporate social responsibility and compliance.
Businesses must also mitigate environmental risks, identifying factories or farms in high-risk zones for deforestation, water stress, social risk, or protected lands. Businesses can identify these risks and work with their supplier to identify new sources and target mitigation programs.
Listen as our authoritative panel guides counsel on navigating the global supply chain, addressing the ESG compliance requirements in conjunction with local regulations. The panel will discuss ways businesses can proceed while retaining licenses to operate internationally while meeting ESG standards and increasing shareholder confidence.
