“This will likely not be the last case of a firm being blocked from listing due to poor labour standards,” John continues.
“But there is no blanket solution to stamping out modern slavery.
“Global supply chains are deeply complex and multi-tiered, meaning the traceability and visibility of supply chains can be a ‘finger in the air’ moment, particularly when a company is reliant on correct information being provided from their supply chain.
“Companies must probe beneath the surface of their supply chains to truly understand them and eliminate poor labour standards.
“This could mean identifying high-risk factories and implementing new audits, or deciding to exit certain locations.
“Central to this will be ensuring that companies must be more rigorous in vetting their suppliers at selection, conducting regular audits of their contracts, approaches and policies to ensure they are meeting the highest standards.”
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