Summary
This law aims to establish a duty of care and responsibility for companies throughout their value chains. The proposed law requires companies to conduct due diligence on their supply chains to identify and address potential adverse impacts on human rights, the environment, and other areas. Companies would also be required to establish a grievance mechanism to address complaints related to their activities and to provide for remediation where necessary. Additionally, the proposed law provides for penalties for non-compliance, including fines and suspension or revocation of business licenses. The proposed law is intended to promote responsible business conduct and to ensure that companies are held accountable for their impacts on people and the environment throughout their value chains.