Verisk Maplecroft launches global due diligence compliance solution
In a move that will help companies navigate the increasingly complex landscape of global human rights and environmental due diligence (HREDD) regulations, Verisk Maplecroft has mapped its industry-leading Global Risk Data to a host of key legislative requirements, including the CSDDD and the LkSG. The comprehensive compliance solution simplifies two critical tasks for businesses – the identification and prioritisation of sustainability risks across global value chains.
Offering organisations a unified approach to meeting key aspects of their due diligence and sustainability reporting obligations, the new solution addresses the mounting challenges faced by multinational corporations as they grapple with a wave of new regulations. The data, which draws on our portfolio of 190+ global environmental, human rights and political risk indices, is available as a stand-alone solution but can be complimented by expert advice and tailored mitigation measures from our advisory team to streamline the process further.
The pre-selected, regulation-specific data covers the most important sustainability legislation:
- Australia Modern Slavery Act
- Canada Fighting Against Forced Labour and Child Labour in Supply Chains Act
- EU Battery Regulation
- EU Conflict Minerals Regulation
- EU Corporate Sustainability Due Diligence Directive (CSDDD)
- EU Corporate Sustainability Reporting Directive
- EU Deforestation-Free Product Regulation (EUDR)
- EU Regulation to Prohibit Products made using Forced Labour
- French Duty of Vigilance Law (DoV)
- German Supply Chain Act (LkSG)
- Norwegian Transparency Act
- Swiss Code of Obligations
- Swiss Ordinance on Due Diligence and Transparency in relation to Minerals and Metals from Conflict-Affected Areas and Child Labour
- UK Modern Slavery Act
- US Uyghur Forced Labor Prevention Act (UFLPA)
"Companies today face an unprecedented challenge in managing compliance across multiple jurisdictions and regulations," says Dr James Sinclair, Verisk Maplecroft’s Director of Human Rights. "Our solution presents global risk data in a way that is aligned with the core requirements of a suite of human rights and environmental due diligence laws, enabling businesses to prioritise their compliance efforts more effectively."
The timing is particularly significant as businesses prepare for the implementation of new regulations. The CSDDD, for example, will require companies to identify and address adverse human rights and environmental impacts throughout their value chains. Our solution helps organisations by providing the data they need to undertake detailed global risk-based assessments quickly and simply.
Figure 1: Compliance with due diligence requirements made simple
Examples of due diligence regulations mapped to Verisk Maplecroft’s risk indices
| Verisk Maplecroft Risk Index | CSDDD | DoV | EUDR | LkSG | UFPLA |
|---|---|---|---|---|---|
| Climate Risk Data Learn about the dataset | |||||
| Total GHG Emissions | ✔ | ✔ | ✔ | ✔ | |
| Water Stress | ✔ | ✔ | |||
| Environmental Risk Data Learn about the dataset | |||||
| Air Quality | ✔ | ✔ | ✔ | ||
| Biodiversity and Protected areas (Marine) | ✔ | ✔ | |||
| Biodiversity and Protected areas (Terrestrial) | ✔ | ✔ | ✔ | ||
| Deforestation | ✔ | ✔ | ✔ | ||
| Environmental Pressure | ✔ | ||||
| Environmental Regulatory Framework | ✔ | ✔ | |||
| Hazardous Waste | ✔ | ✔ | |||
| Mercury Pollution | ✔ | ✔ | |||
| Persistent Organic Pollutants | ✔ | ✔ | |||
| Recycling | ✔ | ||||
| Waste Generation | ✔ | ||||
| Waste Management | ✔ | ||||
| Water Pollution | ✔ | ✔ | ✔ | ||
| Water Quality | ✔ | ||||
| Water Security | ✔ | ||||
| Human Rights Data Learn about the dataset | |||||
| Access to Remedy | ✔ | ✔ | ✔ | ||
| Arbitrary arrest and detention | ✔ | ✔ | ✔ | ||
| Child Labour | ✔ | ✔ | ✔ | ✔ | ✔ |
| Decent Wages | ✔ | ✔ | ✔ | ✔ | |
| Decent Working Time | ✔ | ✔ | ✔ | ✔ | |
| Discrimination in the Workplace | ✔ | ✔ | ✔ | ✔ | |
| Education | ✔ | ||||
| Extrajudicial or Unlawful Killings | ✔ | ✔ | ✔ | ||
| Forced Labour | ✔ | ✔ | ✔ | ✔ | ✔ |
| Freedom of Assembly | ✔ | ✔ | ✔ | ||
| Freedom of Association and Collective Bargaining | ✔ | ✔ | ✔ | ✔ | |
| Freedom of Opinion and Expression | ✔ | ✔ | ✔ | ✔ | |
| Healthcare | ✔ | ||||
| Indigenous Peoples' Rights | ✔ | ✔ | ✔ | ✔ | |
| Informal Workforce | ✔ | ||||
| Kidnappings | ✔ | ✔ | ✔ | ||
| Land, Property and Housing Rights | ✔ | ✔ | ✔ | ✔ | |
| Migrant Workers | ✔ | ✔ | ✔ | ||
| Minority Rights | ✔ | ✔ | ✔ | ✔ | |
| Occupational Health and Safety | ✔ | ✔ | ✔ | ✔ | |
| Right to Privacy | ✔ | ✔ | ✔ | ||
| Security Forces and Human Rights | ✔ | ✔ | ✔ | ✔ | |
| Sexual Minorities | ✔ | ✔ | ✔ | ||
| Torture and Other Ill-treatment | ✔ | ✔ | ✔ | ||
| Trafficking in Persons | ✔ | ✔ | ✔ | ✔ | ✔ |
| Women's and Girls' Rights | ✔ | ✔ | ✔ | ✔ | |
| Young Workers | ✔ | ✔ | |||
| Political Risk Data Learn about the dataset | |||||
| Conflict Intensity | ✔ | ✔ | |||
| Civil unrest (Historic) | ✔ | ||||
| Food Security | ✔ | ||||
| Rule of Law | ✔ | ✔ | |||
| Trade sanctions | ✔ | ||||
Taking the complexity out of due diligence and ESG reporting regulations
"The solution's strength lies in the underlying data, which offers compliance teams a unified source of risk screening metrics that cover the full range of issues covered by these laws – from child labour, modern slavery and corruption to nature loss, water stress and pollution," adds Sinclair. "Rather than managing multiple systems and datasets, companies can access all the risk intelligence they need through one or they can pull the data into their own risk management systems via an API."
The depth and breadth of the data covers the entire scope of human rights and labour rights issues, alongside scores of nature, climate and political risks, many of which are available at subnational levels. In addition, Verisk Maplecroft’s Industry Risk Data provide a valuable, extra layer of insight by assessing the sector-specific risk exposure of business across 51 issues, 80 industries.
By combining our data with the locations of operations, assets and suppliers, companies can simplify complex global risk assessments, instantly gain specific insight into their risk exposure and align with the myriad of HREDD and reporting requirements. Importantly, reducing the compliance burden in this way can help companies focus their resources on addressing identified risks.
Tailor-made human rights and environmental due diligence solutions
No matter where your company is on its due diligence journey, our experienced team of experts are on hand to support every step of the process by designing appropriate and effective interventions to ensure compliance with this suite of laws and enhance risk mitigation measures. The granularity and methodological robustness of Verisk Maplecroft’s data also allows reporting teams to accelerate and target their materiality assessments, leading to a simplified and streamlined process.
Looking ahead, we will continue enhancing the solution as new regulations emerge and existing ones evolve. This commitment to ongoing development ensures that clients will have access to the tools and expertise they need to maintain compliance in an ever-changing regulatory landscape.
