Modern Slavery – Beyond Compliance
The Modern Slavery Bill was passed in Parliament on the 29th November 2018. Large companies now have certainty that they are required to produce an annual Modern Slavery Statement which discloses their operations and supply chain, how they may contribute to modern slavery and what they are doing to address those risks.
With the complexity and dynamic nature of modern supply chains, organisations are often at greater risk than they realise of having modern slavery within their operations and supply chain. Steps are required to mitigate this risk and to comply with the legislation, set to come into force in early 2019.
Beyond compliance, this area offers immense opportunity for organisations to position themselves as leaders in ethical supply chains and transparency.
Identifying the risk of modern slavery and responding appropriately can seem like a daunting task. Your needs may include:
- Hot spot identification and prioritisation of goods, services or categories of spend in terms of modern slavery risk;
- Detailed analysis of high-risk categories, products or suppliers;
- Implementation of practical processes to respond to and address identified risks;
- Development of a reporting statement to comply to the legislation;
- Effectively educating your board on the risks and opportunities,
- Capacity building for both employees and suppliers
Complying with the Modern Slavery Act is just the tip of the iceberg. There are a series of steps that should be taken to not only publish a Modern Slavery Statement, but to go beyond basic compliance and confidently lead your organisation to best practice performance.
As with our other procurement services, at the core of our solutions are tools, expertise and methods that efficiently measure environmental and social impacts throughout supply chains. Our life cycle assessment approach informs materiality assessments and can be deployed to identify hotspots across your supply chain and help you put a plan in place to mitigate risk.
Our approach includes four steps to ensure managing modern slavery risk also adds value to your organisation; from visualising your supply chain, to prioritising your risks, mitigating those risks, and educating your employees and suppliers.