16 July 2022 01:02 am Views - 124
By Kelum Bandara
A new law which will come into effect in Germany in January will set new sustainability norms for Sri Lankan exporters to comply with, German Ambassador Holger Seubert said. The ambassador said this at a recent function organized by JAAR Corporate Solutions, a Berlin based think -tank in Colombo recently on Sustainable Supply Chains. “So far, the German law is the most ambitious and far-reaching Human Rights Due Diligence legislation worldwide,” he said.
The event was attended by Markus Löning, the former Commissioner of Human Rights of the German Government and Managing Director of the Berlin based think tank called ‘Loning Human Rights and Responsible Business’.
The event was attended by high-ranking decision-makers from exporting businesses, associations, international organizations and Sri Lankan institutions.
In his opening remarks Joint Managing Director of Jaar Corporate Solutions Andreas Hergenröther stated: “During the past years, sustainability has become a key factor for market access to the EU, the US, and other like-minded countries. Legislations like the German Act on Corporate Due Diligence in Supply Chains have created an enforceable legal frame for sustainability in supply chains.
During his keynote, Mr. Markus Löning said, how consumer driven industry standards and continuous legislation in Europe and the US have forced exporters worldwide to adapt their internal processes to comply with sustainability norms. He underlined that the new German Act created for the first time a legal liability of importers in Germany.
“From 1st January 2023 German importers will have to comply with pre-defined sustainability related reporting rules, which will be monitored by the Federal Office of Economic Affairs and Export Control. This will create an enormous pressure on suppliers from all over the world.”
To strengthen the presence of Löning in Sri Lanka, a cooperation agreement has been signed between Löning and JAAR Corporate Solutions. In cooperation with Löning, JAAR Corporate Solutions - a management consultancy specialized on sustainability, corporate finance, business economics, regulatory services - will support Sri Lankan exporters with regards to corporate due diligence in human rights enabling exporters to comply with sustainability standards and legislations such as the German Act on Sustainable Supply Chains.