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Large companies established in France are in scope of the French Corporate Duty of Vigilance Law. This can include companies who employ at least 5,000 employees, within the head office and within subsidiaries, at the end of two consecutive years. This can also include companies with a head office on French territory or abroad, who employ a minimum of 10,000 employees (including subsidiaries). However, the impact of the law extends far beyond companies directly in scope, as their supply chains will also have requirements to fulfill in order to ensure compliance. In this respect, companies all over the world can be affected by the law.
For more information on the law, and to determine if you are in scope, review the Business and Human Rights Resource Centre Frequently Asked Questions document.
Companies in scope of the law are required to establish, publish and implement a vigilance plan on an annual basis. This vigilance plan must include:
If companies fail to publish or implement a vigilance plan, any concerned parties can turn to relevant jurisdiction for action, in which case the company has a three-month period to meet their obligation. After this time period, companies could be subject to a fine of up to 10 million euros.
The Assent Compliance Platform offers solutions for human rights, environmental compliance and data management. Our modules help companies automate and increase the efficiency of due diligence initiatives required by laws such as the French Corporate Duty of Vigilance Law.