Corporate Accountability: Leading the Charge Against Modern Slavery

On December 2nd, as we mark the International Day for the Abolition of Slavery, it’s essential for corporate entities to acknowledge their pivotal role in combating modern slavery.

A staggering 50 million people were victims of modern slavery in 2021, with 28 million enduring forced labour and 22 million trapped in forced marriage. These unsettling numbers saw a stark increase of 10 million more individuals in modern slavery in 2021, compared to global estimates from 2016. These figures emphasise the urgency for corporate accountability in addressing this global challenge.

The battle against modern slavery has gained traction, especially with heightened attention on the corporate sector’s responsibility in preventing and tackling this issue. The UK’s Modern Slavery Act of 2015, Section 54, mandates certain large businesses operating in or selling into the UK with an aggregate turnover exceeding £36m per annum to publish an annual modern slavery and human trafficking statement. This statutory obligation aims to boost transparency and accountability in supply chains, compelling businesses to take active measures against modern slavery.

Several companies have earned commendation for their compliance with this Act. Notably, Amazon has partnered with NGOs, governments, and other companies to mitigate modern slavery. The company also adapted its programs to support suppliers amidst the COVID-19 crisis while continuing to address signs of modern slavery.

Now, you might be wondering – How can I make a difference?

Here are some actionable insights to help you and your organisation lead the charge against modern slavery:

1. Transparency and Due Diligence: Promote transparency and build trust with clients and other stakeholders by publishing modern slavery statements and conducting due diligence in your company’s supply chains. Transparency identifies risks and growth chances, while due diligence is vital in preventing and managing modern slavery within the supply chain, as detailed in a 2021 Sancroft report. 

2. Advocacy and Collaboration: Advocate for stronger legislation and collaborate with stakeholders to combat modern slavery. Recent initiatives, like the launch of an online registry for modern slavery statements, and the introduction of mandatory reporting areas, demonstrate the UK government’s commitment to enhancing the Act’s effectiveness. Scrutiny from investors, civil society, and customers will intensify, due to the easy comparison of statements with peers and competitors, thereby encouraging accountability.

3. Prosecution and Accountability: Commercial organisations can be held liable for breaches of the Modern Slavery Act, and the new Modern Slavery Bill brings into play both financial and custodial implications to offenders. A 2023 Shoosmiths blog highlights that preparation and publication of a modern slavery statement can have several benefits for businesses. These include strengthening global brand reputation, bolstering transparency, and enhancing ESG (Environmental, Social, and Governance) credentials.

The International Day for the Abolition of Slavery serves as a poignant reminder of the ongoing struggle against modern slavery, and the significant influence of corporations in eradicating this abhorrent practice. By championing transparency, advocating for stronger legislation, and bearing responsibility under the Modern Slavery Act, your firm can lead the fight against modern slavery, building a fairer and more just society.

At Migasuto, our commitment aligns with your pursuit of corporate responsibility and ethical practices aimed at eradicating modern slavery. We stand shoulder to shoulder with organisations, utilising our in-depth research and specialised copywriting services to fortify your DE&I efforts. Let’s work together towards a more equitable and just world.