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The Business Council understands the need for corporate social responsibility and sustainability; however, it must be accomplished in a way that is not harmful to businesses. This is why we must oppose S.4746 (Hoylman-Sigal)/A.4333 (Kelles).
This legislation seeks to regulate supply chains without clearly understanding how some of these proposed regulations would hinder each step in the process. Certain disclosure regulations included in this legislation would force suppliers to violate confidentiality agreements. This could also force brands to disclose sensitive business information.
Furthermore, this would put a strain on brands, suppliers, and stores to comply with unnecessary additional environmental requirements. Brands and stores are already in the process of complying with New York’s Climate Leadership and Community Protection Act. Additionally, many brands and stores already have internal initiatives in place to be more environmentally friendly. Any additional goals would be unattainable.
This legislation would create unrealistic requirements and penalties that would hinder supply chains and other business operations, as well as be detrimental to stores' revenue. For these reasons, The Business Council opposes S.4746 (Hoylman-Sigal)/A.4333 (Kelles).