Businesses with a year end of 31st March 2016 will be the first required to publish a statement on the action they have taken to ensure their supply chains are slavery free.
The government’s new regulations on slavery in the supply chain will apply to companies which have a turnover of over £36m.
Speaking at the publication of a guide to the regulations, Karen Bradley, the minister for preventing abuse and exploitation, said: “The duty will mean that major businesses will, for the first time, be expected to be transparent about the action they are taking to address modern slavery in their global supply chains. 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.”
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 web site.