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The legal text of the counter-proposal to the Swiss popular initiative «For responsible businesses - protecting human rights and the environment» (Responsible Business Initiative, RBI), which was rejected on 29 November 2020, has entered into force on 1 January 2022. This initiative requires companies to take on more responsibility in the area of sustainability and to report on this. These reporting requirements, which initially apply only to large companies, also have an indirect impact on smaller suppliers and increase pressure across the market.
Companies
Regarding the latter two components, each company must assess whether it falls under the due diligence and transparency obligations with regard to minerals and metals from conflict-affected and high-risk areas and with regard to suspected child labour.
Starting in the 2023 reporting year, companies will be required to report on the above-mentioned indicators. In addition, the specific and additional requirements for climate reporting in accordance with the internationally recognised recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), which are presented as part of non-financial reporting, will be added from the 2024 reporting year.
Stay compliant and gain a strategic management tool. You create transparency for your management, employees, suppliers, customers, and other stakeholders.
Improved understanding will help you to identify and manage risks early and turn opportunities into business potential.
Take advantage of this opportunity to advance your sustainability management, improve your position in the field and create added value for internal and external stakeholders.