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In the world of third-party risk management, organizations need to navigate a complex and expanding web of guidance, standards and regulations. Here, you can explore an overview of major industry standards and regulations that can help you ensure third-party compliance and build a more resilient business.
Regulators have made clear that third parties should attest to and align to your compliance, ethics, and risk management standards and obligations. Aravo enables customers to easily capture, update, manage and retain third party attestations and certifications with these regulations and other ethics and compliance standards.
Dodd-Frank Wall Street Reform and Consumer Protection Act 1502 and Clean Diamonds Trade Act (CDTA) defines restrictions on the mining, transporting, and commerce of Conflict Minerals. Dodd-Frank Act mandated the SEC to ensure the sale of conflict materials (e.g. coltan, tantalum, tin, tungsten, and gold) does not benefit armed groups in or near the Democratic Republic of Congo.
Jurisdiction: Europe
This regulation requires EU companies that import tin, tantalum, tungsten, or gold (in mineral or metal form) to conduct due diligence if they choose to import from conflict-affected and high-risk areas. The regulation is directly linked to the OECD Due Diligence Guidance.
Jurisdiction: Global
This is an internationally recognized due diligence framework that provides detailed guidance for companies to respect human rights and avoid contributing to conflict through their mineral or metal purchasing decisions and practices. It outlines a five-step framework for due diligence to assist companies in respecting human rights and avoiding contributing to conflict through their mineral purchasing decisions and practices.
Jurisdiction: Global
This international treaty regulates the movement of hazardous waste between countries and aims to minimize its generation and ensure its environmentally sound management.
Jurisdiction: Canada
CEPA is a federal law that aims to prevent pollution, protect the environment, and manage toxic substances. It addresses various aspects such as air and water pollution, hazardous substances, and waste management.
Jurisdiction: Canada
This legislation sets out the process for conducting environmental assessments of major projects to identify potential environmental impacts and determine appropriate mitigation measures.
The Clean Air Act of 1963 as defined in U.S. Code Title 42, Chapter 85, Subchapter I, Part A, § 7412 and § 7420 designates what is a hazardous air pollutant, how to dispose of it and what are the penalties for non-compliance with the Environmental Protection Agency’s (EPA) Standards.
Jurisdiction: United States
The CWA regulates water pollution from point and non-point sources. It includes provisions for permitting, standards, and enforcement.
Jurisdiction: Europe
Directive 2011/92/EU defines the environmental impact assessment (EIA) process which ensures that projects likely to have significant effects on the environment are made subject to an assessment, prior to their authorisation.
Jurisdiction: Singapore
The EPMA is Singapore’s main environmental legislation. It covers a range of environmental concerns such as pollution control, waste management, and the conservation of nature and biodiversity.
Jurisdiction: Europe
This cap-and-trade system sets a limit on greenhouse gas emissions from various industries in the European Union and allows companies to trade emission allowances.
Jurisdiction: United Kingdom
The Environmental Protection Act (EPA) in the United Kingdom is a significant piece of legislation that addresses various environmental concerns.
ISO 14001:2015 sets out the criteria for an environmental management system applicable to any industry.
Jurisdiction: United States
This law requires federal agencies to consider the environmental impact of their actions and involve the public in decision-making through environmental assessments and impact statements.
Jurisdiction: United States
This standard requires employers to provide information about hazardous chemicals in the workplace and ensure proper labeling, training, and access to safety data sheets.
Jurisdiction: United States
The RCRA regulates hazardous waste from generation to disposal. It includes provisions for permitting, standards, and enforcement.
Jurisdiction: Europe
The SFDR is a European regulation that requires companies to disclose their environmental impact.
Jurisdiction: Global
The TCFD is a voluntary framework that companies can use to disclose their climate-related risks and opportunities.
Jurisdiction: United States
The TSCA regulates the manufacture, use, and disposal of toxic substances. It includes provisions for testing, labeling, and reporting.
Jurisdiction: Japan
The primary objective of the law is to protect the environment, by recognizing it as our essential life-support system to be passed on to future generations.
Jurisdiction: Global
This international treaty aims to stabilize greenhouse gas concentrations in the atmosphere and mitigate climate change through voluntary country commitments, including the Paris Agreement.
Jurisdiction: Europe
The Water Framework Directive 2000/60/EC is an EU directive which commits European Union member states to achieve good qualitative and quantitative status of all water bodies
Enterprises are required to conduct a risk analysis to identify any human rights and environment-related risks or violations of a human rights-related or environment-related obligation.
Jurisdiction: Global
This standard provides guidance on how businesses and organizations can operate in a socially responsible way, including respect for human rights. It emphasizes the importance of due diligence, which includes understanding the social impacts of an organization’s activities and business relationships.
Jurisdiction: Europe
On February 23, the European Commission released a draft regulation on human rights and environmental due diligence. The draft regulation requires large EU companies, and some non-European companies doing significant business in Europe, to assess their actual and potential human rights and environmental impacts throughout their operations and down their supply chains.
Jurisdiction: Global
The GRI Standards provide a framework for sustainability reporting, which includes reporting on human rights issues. They include several standards specifically related to human rights, including GRI 412: Human Rights Assessment, which encourages organizations to identify and assess the human rights impacts of their operations and supply chains.
Jurisdiction: Global
The OECD Guidelines include a chapter on human rights which stipulates that enterprises should respect human rights, which means they should avoid infringing on the human rights of others and should address adverse human rights impacts with which they are involved. This includes the human rights impacts associated with their business relationships, such as suppliers and other partners.
The California Transparency in Supply Chains Act of 2010 requires companies subject to the law to disclose information regarding their efforts to eradicate human trafficking and slavery within their supply chains on their website or, if a company does not have a website, through written disclosures.
Title VII of the Civil Rights Act of 1964 (Pub. L. 88-352) & The Civil Rights Act of 1991 (Pub. L. 102-166) prohibits an employer with fifteen or more employees from discriminating on the basis of race, national origin, gender, or religion. Companies will want to ensure that their third parties are in compliance with this regulation.
The Modern Slavery Act of 2015 gives UK law enforcement the tools to fight slavery, ensure perpetrators receive suitably severe punishment and protect victims of these crimes. Companies subject to the law are expected to explain the steps the organization has taken during the previous financial year to ensure that slavery and human trafficking are not taking place in any of its supply chains and in any part of its own business.
Jurisdiction: Global
The UNGPs were endorsed by the UN Human Rights Council in 2011. They provide a global standard for preventing and addressing the risk of adverse human rights impacts linked to business activities. The Principles provide a roadmap for businesses to “know and show” that they respect human rights in their own operations and through their business relationships, which includes their supply chains.
Jurisdiction: Global
Adopted by the United Nations General Assembly in 1948, the UDHR sets out the fundamental human rights and freedoms to which all individuals are entitled, regardless of nationality, race, religion, gender, or other status. It serves as a foundation for subsequent human rights instruments.
Wages and the Fair Labor Standards Act (FLSA) and the Equal Pay Act (EPA) of 1963 (Pub. L. 88-38) establishes minimum wage, overtime pay, record keeping, and youth employment standards. Companies will want to ensure that their third parties are in compliance with this regulation.
The information contained on this page is for reference and informational purposes only. As such, Aravo expressly disclaims any and all legal and professional liability associated with the content and any suggestions and/or recommendations provided therewith.
