40

The vote on the European Union directive on due diligence has been postponed. However, this does not mean that SMEs are no longer obliged to comply with economic and legal requirements. From an economic point of view, competition for strategic resources is intensifying. SMEs that are able to develop processes that consume less of these resources or take better account of this context are already developing a competitive advantage. From a legal point of view, the applicable law in Europe, Asia, Africa, and America already requires the renegotiation of contracts between SMEs and principals and the introduction of specific audits. In our previous columns, we have highlighted, through numerous examples, that the basis for these renegotiations can be found in the 2011 United Nations Guiding Principles and the OECD recommendations.