The " Policy Statement of KfW and its Subsidiaries on Human Rights and its Human Rights Strategy" replaces the Human Rights Declaration that has been in place since 2008 and thus meets the increased demands of KfW's internal and external stakeholders as well as the requirements of the German Supply Chain Due Diligence Act (Lieferkettensorgfaltspflichtengesetz - LkSG), which came into force on 1 January 2023. In KfW's view, its goal of improving economic, environmental and social living conditions worldwide can only be achieved if this is accompanied by the effective observance, implementation and promotion of civil, political, economic, social and cultural human rights. The declaration comprehensively sets out KfW's existing approaches to protecting human rights in governance, banking operations, procurement and banking business, as well as their consideration in grievance mechanisms, effectiveness monitoring and reporting.