I was delighted to be a part of today’s panel offering a deep dive into modern slavery legislation, its implications for New Zealand businesses and the practical steps that companies are taking to address hidden risks within their supply chains. Our own experiences at Fair Supply have shown the importance of targeted due diligence — starting from the Australian Modern Slavery Act to global applications. There’s also no one-size-fits-all – it’s about looking at the risk and working with those high-risk suppliers to make changes. What we have to remember is that this isn't just about meeting new standards; it’s about making meaningful changes to protect those in our supply chains. And, be in no doubt, investors and stakeholders are increasingly looking at businesses’ sustainability metrics, including modern slavery, as part of their own ‘partnership’ due diligence. It was pretty clear from the business leaders in the room that the time is right to move the dial on modern slavery – which was so encouraging to hear! I’m always keen to have a kōrero (a new word learnt today – it means chat!) with any organisation looking to strengthen their approach to modern slavery (and reduce compliance complexity!). Reach out if you're on this path and let's share insights. #FairSupply #ModernSlavery #SupplyChainCompliance #EthicalBusiness #Leadership #CorporateResponsibility
Today, our CEO Kimberly contributed her expertise on Australian Modern Slavery legislation and compliance at a panel event hosted by Laura and her DLA Piper team in Auckland. Along with panellists Serena Grant (Walk Free), Sum Green (Westpac), and DLA Piper's own Natalie Caton, Kim shared crucial insights from our experience in Australia, emphasising the importance of due diligence in unearthing and addressing modern slavery risks that often hide within supply chain tiers two to four. Kim highlighted, “Modern slavery is hidden deep within supply chains. Through our technology, consistent with publicly available data, we've identified that the risk generally aggregates at tiers two to four. This is where disclosure legislation becomes critical, enabling organisations to direct resources effectively.” She continued, “The introduction of mandatory due diligence in legislation creates a level playing field. In Australia, we've witnessed a transition from a vicious to a virtuous circle, where institutional investors drive due diligence down through the layers of business, fostering a culture of compliance and responsibility, right down to SMEs.” The Fair Supply journey began the day the Australian legislation came into effect in 2019. Many of our customers have since seen significant commercial benefits, enhancing their social licence to operate and gaining competitive advantage through employing rigorous ESG practices. This event underscored the transformative power of compliance, not just as a legal requirement, but as a catalyst for broader positive change across industries. If you’re thinking about ESG compliance, we’d love to hear from you. https://lnkd.in/gN-8NmP7 Pictured: Sum Green, Natalie Caton, Kimberly Randle, Laura Scampion, Serena Grant and Gareth W Marriott. #FairSupply #ModernSlavery #DueDiligence #SupplyChainEthics #NZBusiness #LevelPlayingField #CorporateSocialResponsibility #SustainableBusiness #ESG #Compliance #CompetitiveAdvantage
Partner (Disputes | Sustainability & ESG)
11moThanks Kimberly for joining us today and sharing your insights.