- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Two experts explained how the C-suite as a whole—not just compliance officers—should be focused on the holistic approach to supply chain risk management during a session at Compliance Week’s virtual ESG Summit on Monday.
Alexis Huseby, vice president and research analyst of environmental, social, and governance (ESG) at Lazard Asset Management, described the holistic approach to supply chain risk management as asking the question, “Your peers are paying attention to this—are you?” She said this approach could be an “investment differentiator imperative going forward.”
From Huseby’s perspective, without buy-in from asset managers and corporations they own, a shift in the sustainability space is unlikely.
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Two dozen lawmakers have demanded the Securities and Exchange Commission require an independent third party to verify fast-fashion retailer Shein does not use Uyghur forced labor before allowing it to go public.
Differences in the level of duty of vigilance among supply chain legislation in countries including the United States, United Kingdom, and Germany mean best efforts to root out and stop slave labor and other worker exploitation are not enough, according to experts.
It’s been six months since the Uyghur Forced Labor Prevention Act took effect, and businesses are no clearer today on how to comply with it, those familiar with the law said.
Companies are still struggling to report meaningfully on societal risks as part of their efforts to meet demands for better environmental, social, and governance disclosures, experts discussed at Compliance Week’s Europe conference in London.
The $19 million fine against DWS Investment Management Americas levied by the SEC wasn’t to punish greenwashing, experts said, but rather a penalty imposed for the firm not doing what it claimed related to its environmental, social, and governance investment strategy.
Companies that haven’t yet set up verifiable reporting in their sustainability programs have a ready reference available in the framework put out by the Committee of Sponsoring Organizations of the Treadway Commission, experts discussed at CW’s virtual ESG Summit.
