Due diligence
At the national and international levels, there is growing attention to human rights in the supply chain. This is reflected in laws and regulations. Both at the national and European levels, an increasing number of laws are being enacted that require organizations to make significant efforts in the areas of due diligence and/or due diligence. In Europe, for example, the OECD Guidelines and the UN Guiding Principles (UNGPs) are considered minimum requirements.
Many organizations struggle to translate these guidelines into their strategy, policies, and business processes. It is difficult to gain a clear picture of the entire supply chain and to determine where an organization’s responsibility begins and ends. Due diligence is a key concept in this regard. Due diligence is the process by which organizations identify, prevent, and mitigate actual and potential adverse impacts, and account for their approach to addressing those impacts. This process considers issues such as human rights, labor conditions, the environment, and corruption, among others. Different risks and impacts apply in each country and for each product.
With so many reports, guidelines, and initiatives, organizations often can’t see the forest for the trees. 2BHonest helps clarify the laws and regulations that apply to your organization. In addition, we help map out due diligence throughout the supply chain through a targeted risk analysis. We translate this into an effective strategy with concrete actions for relevant departments, such as Procurement. Open communication and engagement with stakeholders — such as suppliers, customers, and financing partners — are essential to due diligence.” 2BHonest supports departments with stakeholder engagement programs and external reporting on due diligence.
