Large firms to state how they prevent slavery in supply chain
New legislation is to be introduced to oblige large firms to reveal what measures they take to prevent the use of slavery throughout their supply chain.
The Transparency in Supply Chain duty applies to all commercial organisations that carry out business in the UK and which have a total annual turnover above £36 million.
It follows on from the Modern Slavery Act, which introduced better protection for victims of slavery and harsher penalties for offenders.
Karen Bradley, the Minister for Preventing Abuse and Exploitation, said: “The new duty requires businesses to make a statement setting out what steps they have taken to ensure modern slavery is not taking place in their business or supply chains, or alternatively to state they are taking no action.
“They must now place a link to their statement in a prominent place on the homepage of their website, or provide a hard copy within 30 days where one is requested in writing if they do not have a website.
“Consumers, businesses and investors will now have valuable information about the companies they are supporting - and shoppers can make more informed decisions at the checkout.
“Businesses risk damaging their reputation, or their bottom line, if they don’t take action to prevent modern slavery in their supply chains.”
Please contact Sarah Liddiard if you would like more information about business regulations and compliance.