Newly imposed Government acts for Supply chain betterment in 2024

Sal Prathi Mari
Published in Logistics Edited 3 months ago
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Private companies develop supply chain strategies by considering profitability and branding, but the government addresses the issues of protecting public health and safety, regulating economic activities, promoting environmental sustainability, ensuring social equity and justice, encouraging economic development, maintaining national security, and improving governance and accountability by several new laws and regulations established globally in 2024. These laws are intended to address new problems that are coming up in the world of global supply chains, especially in light of continuous disruptions, environmental issues, and the demand for more accountability.
No Country Act Objective
1 European Union Corporate Sustainability Due Diligence Directive (CSDDD) Act Imposed for businesses to investigate the effects on human rights and the environment throughout their supply chains.
2 United States The Supply Chain Resilience Act (SCRA) Focuses on using supplier diversification and reshoring to strengthen domestic supply chains for essential products
3 China Green Supply Chain Regulation Enforces stronger environmental regulations to lower carbon emissions and advance circular economy principles
4 Japan The Carbon Neutral Supply Chain Act  Stipulates supply chains' carbon neutrality objectives, with predetermined benchmarks until 2030
5 India The National Logistics Policy (NLP) Increases the use of multimodal transportation, lowers the cost of logistics, and upgrades infrastructure
6 Australia The Modern Slavery Act (Amendment) Increases supply chain transparency and fortifies reporting obligations related to modern slavery
7 Canada The Clean Technology Incentives Act Provides financial support and tax breaks to encourage the use of clean technologies in supply chains
8 United Kingdom The Supply Chain Digitalization Act Requires the integration of digital technologies, like blockchain, to improve efficiency and transparency.
9 Brazil The Amazon Supply Chain Protection Act  Establishes rules and penalizes noncompliance with deforestation-related supply chain activities
9 Brazil The Amazon Supply Chain Protection Act  Establishes rules and penalizes noncompliance with deforestation-related supply chain activities
10 Germany The Supply Chain Due Diligence statute (Amendment) Strengthens the penalty for infractions and extends the original statute to smaller businesses
11 South Korea Smart Logistics Act Aims to modernize supply chains through the use of AI, IoT, and big data to increase efficiency and save costs
12 France The Circular Economy Law Fortifies rules on recycling, waste minimization, and the utilization of secondary raw materials in supply chains
13 Saudi Arabia The Vision 2030 Supply Chain Initiative Focuses on sustainability and local content while aligning supply chain procedures with the objectives of Vision 2030
14 Singapore Green Finance Supply Chain Regulation  Offers rewards, including as advantageous rates for environmentally friendly projects, to encourage the adoption of green financing techniques
15 Mexico The National Supply Chain Security Act Strengthens security protocols to thwart illicit activities such as smuggling and theft within supply networks
16 Russia Domestic Production Incentive Act  Offers tax exemptions and subsidies to businesses who source a sizable portion of their supply chain's components domestically
17 Italy Anti-Waste Supply Chain Regulation Stricter regulations on food supply chains, including the requirement to donate excess food,
18 South Africa The Supply Chain Competitiveness Act Seeks to improve infrastructure and lower regulatory barriers to increase global competitiveness
19 Indonesia Regulation of Maritime Supply Chains Increases the effectiveness of the marine supply chain by enacting new regulations for port operations and shipping logistics
20 Turkey Regulation of Supply Chain Risk Management  Establishes required foundations for businesses to recognize and address supply chain vulnerabilities
21 Vietnam The Sustainable Supply Chain Act  Establishes sustainable standards for businesses that manufacture and export goods
22 Argentina the Supply Chain Modernization Act Promotes the use of digital technology in supply chains to increase efficiency and competitiveness
23 Nigeria The National Supply Chain Efficiency Law  Prioritizes infrastructure development and cost savings in logistics to promote trade and economic expansion
24 Chile Renewable Energy Supply Chain Regulation Requires supply chains, especially those in the mining and agricultural sectors, to use renewable energy
25 Norway Transparency Act Companies are required to provide information regarding the effects on human rights and the environment throughout their supply chains
26 Malaysia Halal Supply Chain Certification Regulation Stricter certification standards for Halal supply chains are introduced to guarantee adherence to Islamic law
27 Egypt  The National Transport and Logistics Act  Seeks to enhance the effectiveness of the transportation and logistics network to bolster supply chain operations
28 United Arab Emirates Circular Economy Supply Chain Regulation Encourages the use of circular economy techniques in supply chains, emphasizing resource efficiency and waste minimization
29 Thailand The Digital Supply Chain Incentives Act  Offers financial rewards for integrating digital technologies and solutions into supply networks
30 Sweden The Sustainable Transport Supply Chain Act  Establishes guidelines to lower the carbon impact of supply chain operations connected to transportation
31 Kenya Supply Chain Innovation Fund This fund is set up to encourage supply chain innovation, especially in the manufacturing and agriculture sectors
32 Philippines The Supply Chain Workforce Development Act Aims to improve workforce proficiency in logistics and supply chain management
33 New Zealand The Sustainable Agriculture Supply Chain Regulation Aims to mitigate environmental impacts by introducing sustainability requirements for agricultural supply networks
34 Colombia The Anti-Corruption Supply Chain Act Seeks to lessen supply chain corruption, especially in the context of procurement
35 Finland The Green Supply Chain Certification Act Creates a system of certification for supply networks that satisfy stringent sustainability and environmental requirements
36 Pakistan The Logistics Infrastructure Improvement Act  Aims to boost supply chains' efficiency by enhancing the country's logistics infrastructure
37 Spain Regulation of Energy Efficiency in Supply Chains Imposes requirements on supply chains for energy efficiency, especially in the areas of production and logistics
38 Bangladesh The Supply Chain Digital Transformation Act  Promotes the use of digital technologies to increase the efficiency and transparency of the supply chain
39 Poland The Supply Chain Cybersecurity Regulation Requires businesses operating in vital supply chains to implement cybersecurity safeguards
40 Ghana  Supply Chain Resilience Fund Creates a fund to strengthen supply networks' resilience, especially in areas that are vital to food security
With an emphasis on sustainability, digitization, security, and resilience to face the difficulties of the contemporary global economy, these new acts mirror global trends in supply chain regulation.
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