Key dates:
Proposed in 2021 - upcoming
Applies to:
All companies, including small and medium enterprises (SMEs), that are active in Belgium, and throughout their entire value chains.
What it says:
Companies must establish a risk map of the entire value chain of the company, a description of the value chain, procedures for regular evaluation, and appropriate actions to mitigate the risks or prevent serious harm with respect to human rights, labour rights and the environment.
Penalty:
Companies found not in compliance may be subject to sanctions, fines from EUR 250,000 to EUR 1,000,000, and prison sentences ranging from one month to one year. Victims impacted by a company’s malpractice may also be owed compensation.