For AmCham Bulgaria the Proper Due Diligence Process is a Must for a Good Governance

Fighting human trafficking is among the prerogatives of any government and nation. Businesses – as major stakeholder in every society – play a critical role in securing that all of their policies and procedures are well aligned with the national and supranational legislation and regulations. The corporate compliance is just a starting point here. AmCham Bulgaria is certain that the due diligence processes in its members is at the highest level, and they make sure that all of their operations follow the standards of good governance, and that they are not related with any form of exploitation and of human trafficking. Also, a long time before the ESG requirements to become obligatory and part of the new wave of regulations of the European Commission and the European Parliament, they addressed this in a sustainable fashion in their supply chains. 

All of the regulations that are introduced by the EC, EP, Council of Europe, OECD impact the business that operates in the bright side of every economy. Those businesses pay taxes, they are good corporate citizens, invest in regions and in education, etc., and they bear the administrative burden from the avalanche of regulations. On the other side is the grey economy and even dark commercial operations where human trafficking is essential for their development. Those issues should be addressed by any government – incl. The Bulgarian one – since the right of using force, as well as prosecution and judicial processes are part of the domain of the public authorities.

AmCham Bulgaria was among the few active business associations invited to the “Strengthening the role of the private sector in combating human trafficking and labour exploitation in supply chains” Conference, organized by OSCE, Republic of Bulgaria National Commission for Combating Traffic in Human Beings, Council of Europe on May 25-26, 2024, in Sofia, Bulgaria.

This was the essence of the remarks by Daniel Kiryakov, Communications and Public Affairs Manager, who took part in the discussion in the panel “Best practices of Human Rights Due Diligence in government policy frameworks and legislation: Lessons learned.” together with Christoffer Bjørnum, Assistant Director, Department of Supervision, Norwegian Consumer Authority and it was moderate Julia Schellhaas, Senior Adviser Supply Chains, OSCE.

Moments from the conference