🚀HRDD News: the landmark Forced Labour Regulation was approved by most member states at #COREPER, for which the #EuropeanParliament's final adoption vote will come in April🚀 Though important elements (including remediation) were removed, this regulation represents an important feat by targeting products made with forced labor worldwide from entering the EU market. It specifically outlines: 📌Strengthened Due Diligence: Companies operating in the EU will be required to conduct thorough due diligence on their supply chains to identify and mitigate risks of forced labor. 📌 Disposal, Donation, and Recycling Guidance: Companies are encouraged to prioritize donation or recycling whenever possible, rather than disposal, to minimize waste and prevent potential exploitation of labor in waste management processes. Strict guidelines are set to ensure that any donated or recycled goods are handled ethically and do not inadvertently contribute to forced labor downstream. 📌Enforcement Mechanisms and Sanctions: Strict penalties will be imposed on businesses found in violation of the regulation. These sanctions may include hefty fines and potential bans from operating within the EU market. In cases of state-imposed forced labor, the EU will impose a case-by-case approach including a high-risk list to incentivize compliance and trade restrictions. Belgian Presidency of the Council of European Union #forcedlabour #humanrights #supplychaintransparency #eu
