Modern Day Slavery in 2017
Modern day slavery refers to any form of forced human exploitation for labor or service, such as human trafficking and forced labor. Unfortunately, slavery still exists today in over 130 countries. The International Labor Organization (ILO) estimates that over 21 million people are victims of modern day slavery.
Does your company need to address modern day slavery?
Unfortunately, it’s likely that modern day slavery is in your supply chain; the International Labour Organization (ILO) estimates that close to $150 billion in annual company profits are tied to forced labor.
Annual global company profits linked to forced labor
Is forced labor an issue your company needs to address?
In short, yes – the risks of non-compliance are too significant to ignore. Company specific anti-human trafficking reporting is required by global laws and regulations, and non-compliance consequences can be severe. If found to be in non-compliance, companies can face a high court injunction and serious monetary penalties.
A company’s role in human trafficking also impacts consumer brand perception, which translates into immediate bottom line results. In a global survey of 30,000 consumers*, more than half were willing to pay more for sustainable and socially responsible goods.
Of consumers are willing to pay more for ethically sourced products
*Nielsen Global Corporate Sustainability Report, 2015