Deep Diving into Due Diligence
Due diligence can be a tough task to deal with. However, it is crucial for your ESG work.
Therefore, we’ve created a Sustaina Deep Dive dealing with this topic, to help you along the way.
Keep reading for an introduction to it, and to see the price and what’s included when buying the Due Diligence Deep Dive!
Due diligence briefly explained
One can say that due diligence is about making sure that you have your house in order.
Mapping the landscape of your business is necessary to understand your risks across your entire value chain.
Both regarding social and environmental matters.
Not least, it is important to map your impacts and where you are able to remediate risks.
Through consolidation and focus, you will then be able to lower the negative impacts and limit the risks.
Why is it important?
As a company in the apparel and lifestyle sector, it is always relevant to know your risks and understand where you have an impact.
From an ethical point of view, yes.
But now more than ever also from a business point of view.
Knowing the risks and being able to report about them is going to be a license-to-operate.
Even though SMEs are far from being included in the legislative scope of the new Corporate Sustainability Due Diligence Directive, lots of them will be indirectly affected as business partners in value chains.
Principles of Due Diligence
Practically, Due Diligence should be an ongoing process in your organization, with a check-in and a Due Diligence Report once a year.
Social and environmental audits should be a part of this ongoing process to make sure that you can always identify any adverse impacts.
And of course, it's super important that when you identify adverse impacts, you begin improvements and any risk mitigations straight away.
Mapping and assessing your supply chain will also teach you not to just take on any supplier.
Instead, it will make you consider which suppliers you want in your value chain.
For example, you don’t buy a random phone from a person on the street, you go to a registered retailer with credentials and a warranty you can rely on.
Online education: Deep dives of Due Diligence
This was only a teaser for the Due Diligence Deep Dive.
In the real thing, you will (among other things) learn more about:
The Due Diligence Process
CSDDD and its requirements
How to succeed with due diligence in cooperation with your suppliers
Price: 5000 DKK (excl. VAT)
When buying the Deep Dive, you’ll also get access to our Supplier Mapping & Due Diligence Tool.
With the tool you can segment your suppliers, get an overview of your suppliers and the data linked to them, conduct a risk assessment, map identified risks and much more.
Read more about it and the other Deep Dives by clicking the button below!