MCCI-BEF briefing on corporate due diligence obligations
The Metropolitan Chamber of Commerce and Industry (MCCI) Dhaka and Bangladesh Employers' Federation (BEF) organised a briefing on Corporate Due Diligence Obligations for the Prevention of Human Rights Violations in Supply Chain at the former's office in Gulshan, Dhaka recently.
The objective of the briefing was to familiarise the business community with the latest developments in Due Diligence Obligations in Germany and their implications for Bangladesh, a press release said.
Germany has recently enacted an act on Corporate Due Diligence Obligations in Supply Chains, after which the EU has also come up with a proposal for a guideline on Corporate Sustainability Due Diligence.
Of these, the German Act will come into effect in 2023. And the EU guideline was proposed in February 2022 but it is yet to finalise.
"As the world moves towards stricter human rights due diligence requirements, businesses in Bangladesh will have to respond accordingly," said Md Saiful Islam, president of MCCI.
He also emphasised the need for pursuing growth and progress amid increased costs, which would arise out of complying with the new due diligence obligations.
Ardashir Kabir, president of BEF, emphasised on how the Bangladeshi employers valued their workers and were committed to protecting them.
He, however, believes as a country where over 80 per cent of its population works in the informal economy, Bangladesh would benefit from introducing the due diligence obligations gradually.
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