What companies need to be aware of
The German Supply Chain Due Diligence Act (Lieferkettensorgfaltspflichtengesetz, LKSG), which came into force on 01 January 2023, obliges companies based in Germany with more than 1,000 employees to check their supply chains for possible human rights violations and environmental damage and to take appropriate measures to prevent such violations. However, companies based outside Germany can also fall within the scope of the law if they supply to German companies.
A supply chain directive (CSDDD) was adopted at the EU level in April 2024 requiring companies to manage risks in the supply chain. Based on these laws, European companies will also engage with their suppliers abroad and request relevant information regarding compliance with human rights and environmental standards.
Furthermore, the Sustainability Directive (CSRD) is currently being implemented in Europe, mandating that companies enhance sustainability in key areas of their business and involve their suppliers in this process.
We are happy to provide support for the implementation
Compliance with the constantly changing national and international regulations is a major challenge for small and medium-sized enterprises in particular. MGCC and its partners are happy to support you with a wide range of services.
Introducing Trustnet.Trade®, a digital tool for handling due diligence processes. Created by professionals from Cargodian, this system helps your company efficiently manage suppliers and business partners, while also reducing risks in the supply chain before they become a problem.
Trustnet.Trade® is a cutting-edge digital platform that sets a new standard business compliance. It offers features like multi-client capabilities, customisable settings for various accounts, a smart widget to display your company’s compliance status on your website, and tools to assign tasks for specific risk management needs.
Tailored for verifying business partners (KYB) and complying with the Supply Chain Due Diligence Act, Trustnet.Trade® ensures smooth and effective handling of regulatory needs.
Trustnet.Trade® develops products to meet compliance needs for:
- The German Supply Chain Due Diligence Act (SCDDA/LkSG)
- The EU Corporate Sustainability Due Diligence Directive (EU CSDDD)
- The EU Money Laundering Directive
- Coming soon! CSRD Module
Why Trustnet.Trade®
Sanction Check:
- Identify, categorize, and map business partners globally
- Conduct beneficial owner sanctions list checks, AMS, and PEP checks
Risk Analysis and Monitoring:
- Ensure sustainability and resilience in the supply chain with high-quality data analysis
- Continuous monitoring of changes and evolving risks
Supplier Improvement Checks:
- Book on-site Supplier Improvement Checks (SIC) virtually to verify your business partners effectively
- Go beyond a simple audit to receive detailed recommendations and support continuous improvement
Practical Recommendations:
- Receive actionable recommendations for risk prevention and reduction
- Access ready-to-use templates, checklists, and instructions
Trustnet.Trade® Client Testimonials
Explore the practical benefits of Trustnet.Trade® through testimonials from happy clients. Please note that these testimonials are currently in German. They provide valuable insights into how Trustnet.Trade® has helped their businesses handle regulatory hurdles and manage risks efficiently.
To know more about the solution for Supply Chain Due Diligence and Know-Your-Business (KYB) partner check, get in touch with us to receive your FREE personal promo code and a FREE no-obligation-demo!
In addition, MGCC offers audits, employee surveys, gap and risk analyses in cooperation with TÜV Süd and Blue Numbers on demand for Malaysia. We are also happy to train you in the Supply Chain Due Diligence Act according to your individual needs.
