In 2015, the UK Government introduced the Modern Slavery Act, which requires businesses with a turnover of £36 million or over, to release a statement outlining steps they are taking to comply with the new legislation. What many companies miss is that the statement should also reference efforts to check their supply chains too.
This is in response to a global stance to wipe out modern slavery after the International Labour Organization estimated that 30 million people are enslaved today, and the profit generated by this labour is $150 billion annually.
Naming and shaming brands
Speaking on the legislation, Prime Minister Theresa May, said: “By increasing supply chain accountability, more workers will be protected, and consumers will have greater confidence in the goods and services they will buy.”
With businesses being ‘named and shamed’ when preventative measures are not being taken, understandably modern slavery has become a hot topic in recent months, with big brands being checked to ensure they are following the legislation and safeguarding their reputation.
However, research compiled in The Modern Day Slavery Survey 2017 Report has found that 71% of procurement professionals felt they were ill-prepared for the new legislations and struggle to monitor their supply chain due to time pressures.
Improve your ethical footprint
Here at Altius, we can offer you a way to make sure you are not on that list, but, more importantly, with growing spotlight being pointed at all brands to show transparency in their supply chain, we can help you prove that you really care about your corporate ethical footprint, while saving time and money.
As the leading supply chain compliance provider, our award-winning team can help you:
- Identify issues in your supply chain to offer business protection
- Advise on preventative measures you can take to ensure ethical standards
- Spot-check your supply chain to ensure everyone is following your brand policies
- Create a Slavery and Human Trafficking Statement for release
- Train your staff to identify and report issues through Tool Box Talks and information documents
For more information on how we can help you really care about your corporate ethical footprint, speak to our team today for a free supply chain health check, or complete your own health check below.
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