The Union wants to repeal the German supply chain law, by vote in the Bundestag. VDMA General Manager Thilo Brodtmann says: 'Federal Minister of Economic Affairs Habeck had already announced a suspension of the German law on due diligence obligations in supply chains (LkSG) in June, but unfortunately nothing has happened so far. That is why we now strongly support the CDU-CSU parliamentary group's initiative to repeal this law with immediate effect.'
VDMA General Manager Thilo Brodtmann.
'The Supply Chain Act has so far had a major detrimental and costly impact - not only for the companies directly addressed, but above all for the domestic small and medium-sized industrial enterprises indirectly affected,' he says. 'Overall, reporting obligations for companies in Germany and Europe are becoming excessive and are no longer proportionate to the intended benefit. They therefore pose a major threat to the competitiveness of Germany and Europe, especially of small and medium-sized enterprises.'
He continues: 'The German government should therefore now exert all its power to influence EU institutions to fundamentally revise the European directive on due diligence obligations in the supply chain.'
More information:
VDMA
www.vdma.org