GF Piping Systems has forged a contractual agreement with Prewave, an Austrian supplier monitoring provider, to enhance the assessment and management of sustainability risks within its supply chain. Prewave, renowned for its innovative application of AI technology, conducts thorough screening and evaluation of suppliers across a wide spectrum of sustainability criteria, issuing risk alerts across more than 50 categories.
Headquartered in Switzerland, GF Piping Systems boasts a global presence with sales companies in 31 countries and a workforce exceeding 8,000 employees worldwide. Partnering with Prewave reinforces GF Piping Systems’ commitment to meeting the requirements of the new European Supply Chain Act, enacted in June 2023, which mandates a transition period of five years for compliance.
The legislation mandates EU companies to meticulously address social and environmental impacts throughout their value chains, encompassing direct and indirect suppliers, internal operations, and products and services. The overarching goal is to ensure adherence to human rights standards, environmental regulations, and sustainable business practices, fostering a fair and sustainable global economy.
This strategic alliance empowers GF Piping Systems to actively monitor sustainability risks, leveraging Prewave’s monitoring service to receive timely alerts. This proactive approach enhances the company’s due diligence efforts, particularly within the framework of the new GF Human Rights Due Diligence (HRDD) process. By aligning with international conventions, standards, and emerging legal regulations, GF Piping Systems reinforces its commitment to transparency and responsible corporate governance.
