Fine of €7,000 Issued to SAS COREDUX
On November 25, 2024, the French Ministry of Economy announced a fine of €7,000 imposed on SAS COREDUX, a company with SIRET number 542 056 361 00075.
Reason for the Fine
The ministry stated that the fine was issued for violations related to the “Law on the Duty of Care of Parent Companies and Ordering Companies.” This law, also known as the “Parent-Subsidiary Duty of Care Law,” was enacted in 2017 to enhance corporate social responsibility and prevent human rights and environmental abuses in the global supply chains of French companies.
Specifically, the ministry alleges that SAS COREDUX failed to:
- Establish a “vigilance plan” to identify and mitigate risks to human rights and the environment in its supply chain
- Conduct due diligence on its suppliers
- Set up an internal alert mechanism for whistleblowers to report potential violations
- Monitor the implementation of its vigilance plan and take corrective actions if necessary
Response from SAS COREDUX
SAS COREDUX has not publicly commented on the fine or the allegations against it.
Significance of the Fine
This fine is a significant development in the enforcement of the Parent-Subsidiary Duty of Care Law. It sends a strong message to French companies that they are expected to take proactive steps to address the social and environmental impacts of their supply chains.
The fine also highlights the growing scrutiny of corporate supply chains by governments and regulators around the world. Companies are increasingly under pressure to ensure the ethical sourcing of their products and materials and to protect the rights of workers and communities in their supply chains.
Next Steps
The French Ministry of Economy has stated that it will continue to monitor the implementation of the Parent-Subsidiary Duty of Care Law and take enforcement actions against companies that fail to comply.
Companies operating in France should review their own vigilance plans and supply chain management practices to ensure compliance with the law. They should also be prepared to face increased scrutiny from regulators and other stakeholders regarding their environmental and social performance.
Amende de 7 000 € prononcée à l’encontre de la SAS COREDUX (numéro de SIRET : 542 056 361 00075)
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