ESG Regulations and Supply Chain: Implementation and Challenges.

Shujath Bin Ali

10/23/20231 min read

a group of people sitting around a table
a group of people sitting around a table

I was privileged to be invited to Bangkok as a panelist at a session on "ESG Regulations and Supply Chain: Implementation and Challenges."

The 2023 Annual Conference "𝗘𝗦𝗚 & 𝗦𝘂𝗽𝗽𝗹𝘆 𝗖𝗵𝗮𝗶𝗻𝘀: 𝗡𝗮𝘃𝗶𝗴𝗮𝘁𝗶𝗻𝗴 𝗮 𝗡𝗲𝘄 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝗘𝗻𝘃𝗶𝗿𝗼𝗻𝗺𝗲𝗻𝘁" is organized by the German-Southeast Asian Center of Excellence for Public Policy and Good Governance (CPG), Faculty of Law, Thammasat University, Thailand.

Participated in two-day discussions along with senior leaders, academicians, lawyers, and UN officials, from #German #ASEAN #policymakers specifically on "Shaping the Future #Future of #ESG in #Asian #SupplyChain”. Special thanks to @Henning Glasser Director, CPG Lucas Meier and Venus Phuangkom his team 🙏

🔑 Key takeaways:
The evolving ESG landscape is a global force with far-reaching impact. Geopolitical factors are shaping its adoption. 🌐

Navigating human rights in Asian supply chains is critical. We discussed the current state of practices and challenges. 👥💼

ESG standards influence investments and business strategies. What we learned will shape future decisions. 💼💡

Collaborative efforts and third-party certifications are vital to ensuring ESG compliance. We explored potential and challenges. 🤝✅

EU regulations are making a profound impact, bringing clarity and responsibility to supply chain management. We have to see the positive trajectory they might create. 🌍📜

🌍 EU's New Legislation: A Global Game Changer. 📢 The EU is on the verge of passing a groundbreaking Corporate Sustainable Due Diligence Directive (CSDDD), aiming to make companies more responsible for their global impact on human rights and the environment.

🏭 Large EU and non-EU companies operating in the EU will be held accountable for their supply chain practices.

🤝 Human Rights groups are excited about the potential for positive change. Will it bring more corporate responsibility worldwide? 🌐🌱

💼 However, concerns arise about the impact on local businesses and trade relations. The outcome could reshape EU-ASEAN trade dynamics.

📅 The legislation is set to come into effect in 2024. Stay tuned for updates!

Was a wonderful time spent on fellowship with mutual learnings for collective actions collaborating moving forward with respective speakers from here 👌