Hamburg entrepreneur Michael Otto warns of the abolition of the Lief chain law. As he explains to the German Press Agency, he thinks the idea “correctly from the principle that we have the supply chain law and also need”. Since the beginning of 2023, companies have been obliged to comply with standards in terms of the environment and social issues via the German supply chain law. The CDU recently spoke out for the abolition of that obligation. Here, however, Otto sees a danger: “We have to be careful not to make a role backwards and believe that we have to move everything, delete, change.”
Nevertheless, the entrepreneur and one of the wealthiest people in Germany also express criticism of the implementation. The reporting obligations in particular are currently too complex and would have to be simplified so that companies have no catalog of “hundreds of questions”, some of which are similar, but still have to be answered individually.
