Translated by: MOS Finance Team – Xia
On February 3th, local media sources indicated that the U.S. federal government is requiring local companies to conduct more stringent reviews of their respective global supply chains under a bill aimed at stopping forced labor by the CCP.
According to information, the Uighur people and other ethnic minority in Xinjiang have been coerced into work by the CCP at factories, farms and mines for a various of industries including clothing companies, food brands, solar panel makers, electric vehicle manufacturers and technology company suppliers.
In response, the Department of Homeland Security is seeking a best practice that will allow U.S. companies that rely on the CCP raw materials, partially finished products, and finished products to establish more transparent and improved accountability. It is reported that the DHS has begun requesting Customs to provide traceability and verification standards on goods imported from China in order to confirm whether they are involved in forced labor that occurred in the Xinjiang region of the CCP.
In addition, U.S. companies will also be aligned in their ESG performance by reviewing their supply chains for forced labor at the environmental, social and corporate governance level. These review items include factors such as labor standards, labor practices, water, carbon, and other natural resource inputs and human rights.
Proofread / Edited / Published by: Ashley
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