Do you Comply with Global Laws
Modern Slavery statements required by the Federal Act must identify the reporting entity and address the following mandatory criteria:
- The reporting entity’s structure, operations and supply chains;
- Modern slavery risks in the reporting entity’s operations and supply chains (including those of subsidiary entities);
- Actions taken (including by subsidiary entities) to assess and address those modern slavery risks, including due diligence and remediation processes;
- How the reporting entity assesses the effectiveness of actions taken; and
- The process of consultation with subsidiary entities in preparing the modern slavery statement.
Modern slavery encompasses criminal offences relating to deprivation of civil liberties, human trafficking, forced marriage and child labour. Modern slavery risks do not extend to unlawful practices (such as wage underpayment) that do not otherwise have elements of slavery, servitude
or debt bondage, etc.
Modern slavery risks impact other adjacent obligations, particularly for the purposes of compliance with labour and immigration legislation in All Countires.
Every year consumers become more aware of human rights abuse and slavery in supply chains. Failure to ensure social responsibility in your supply chain can cause brand value destruction, class action law suits, and with recent legislation, fines and jail time.
Understanding the current status of the slavery-free movement and how to manage your slavery-free supply chain is essential to securing an ethical supply chain and garnering brand loyalty.
Modern Day Slavery: Facts & Figures
- Today, the number of people enslaved worldwide is estimated to be anywhere between 21 and 36 million, 26% of which are children under the age of 18.
- Almost 50% of modern slaves are enslaved in India, with China and Pakistan holding second and third place.
- A common misconception is that slave labor and human trafficking is primarily limited to the sex industry, but as many as 78% of slaves worldwide are victims of forced labor in industries that are not related to sex.
Have you had your Modern Slavery Audit?
Standards and Frameworks to Address Modern Slavery.
Businesses will be required to report on what they are doing to address modern slavery in their business operations and their supply chains.
There are numerous frameworks and standards that can help companies implement ethical business practices and address modern slavery risks. Here is a snapshot of these frameworks and standards:
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UN Global Compact
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SA8000® Standard (Social Accountability)
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ISO 26000:2010 – Guidance on social responsibility
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ISO 20400:2017 Sustainable procurement – Guidance
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Sedex (Supplier Ethical Data Exchange)
For the last two years many firms have examined the Top Fortune 500 Companies globally in-bound across 12 industries with their assessments based on the six key areas that government guidance recommends companies to cover in their Statements.
They used a simple scoring methodology which assigned points under each of the six areas as defined in the guidance.
These reviews found that 42% of Statements were non-compliant, failing to meet one or more of the legal requirements to be:
+ Published on the company’s website with a prominent link on the homepage
+ Signed by a named director or above
+ Available Statement in date
Of the 58% Statements which were compliant, scores ranged from 14% to 80%; demonstrative of a wide range in the quality of Statements produced.
