Modern Slavery’s Accountability Gap

Modern slavery is a significant business risk, but many companies are still failing to properly account for it.

Although UK law requires companies of a certain size – those with more than £36 million ($46 million) in global turnover – to produce yearly slavery and human trafficking statements, investors say that firms often fall short. They are therefore taking things  into their own hands, actively engaging with companies to eliminate modern slavery from supply chains.

The number of people in modern slavery increased by 20% globally between 2016 and 2021, rising to an estimated 50 million people, according to the International Labour Organisation (ILO). Modern Slavery includes human trafficking, forced labour, forced marriage and debt bondage.

https://www.esginvestor.net/modern-slaverys-accountability-gap/