2019 Impact 25
MEDIA, JOBS & RESOURCES for the COMMON GOOD
News  |  Governance

Is your business contributing to modern slavery?


Monday, 1st April 2019 at 1:56 pm
Maggie Coggan
Australia’s first law firm dedicated to helping business comply with state and federal Modern Slavery Acts has launched in a bid to help business become more humanitarian, without losing any of the profits.


Monday, 1st April 2019
at 1:56 pm
Maggie Coggan


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
Is your business contributing to modern slavery?
Monday, 1st April 2019 at 1:56 pm

Australia’s first law firm dedicated to helping business comply with state and federal Modern Slavery Acts has launched in a bid to help business become more humanitarian, without losing any of the profits.  

Fair Supply, which officially launched on Wednesday, will partner with organisations in NSW to incorporate the requirements of the Commonwealth and state acts into their business practices.

The Commonwealth Modern Slavery Act, which was passed late last year, requires organisations with consolidated revenues over $100 million to report annually on the risks of slavery in their operations and supply chains.

In NSW, the Modern Slavery Act affects organisations with consolidated revenues of $50 million and over, with fines of up to $1.1 million awarded for non-compliance in the state.   

Kimberly Randle, executive director and principal lawyer of Fair Supply, told Pro Bono News that complying with the act did not mean organisations had to miss out on making money.

“Business is about making money and profitability, but that can be done in a way that also increases the social responsibility and sustainability of an organisation, which is an increasingly important factor,” Randle said.

The firm will review company policies and procedures from a human-rights approach, and use technology to identify the risk of modern slavery in the supply chain.

“Organisations can enter their spend data into software that provides risks priority categories down to tier six of your supply chain,” she said.

Randle said the act should be seen as useful, as it gave businesses the tools to make good decisions and combat the growing international problem of modern slavery in supply chains.

“It’s really important for organisations and corporates to be a mandated part of the solution to combating slavery, ” she said.    

“This is a chance for Australian businesses to lead the global market in incorporating transparency, humanity and acuity into a best business practice.”

She added that purpose-driven organisations should be leading the charge of this change, and carefully examining how their supply chains could be contributing to modern slavery.

“It’s really important for those organisations to have visibility over how much of their supply chain contributes to modern slavery, because so often we overlook internal parts of our supply chain,” she said.

“This could be anything from the chairs we sit on, tables we use, tea we drink in our tea-rooms, and so I think the legislation actually provides purpose-driven business [an opportunity] to lead by example and really pave the way for best practice.”


Maggie Coggan  |  Journalist  |  @MaggieCoggan

Maggie Coggan is a journalist at Pro Bono News covering the social sector.


Got a story to share?

Got a news tip or article idea for Pro Bono News? Or perhaps you would like to write an article and join a growing community of sector leaders sharing their thoughts and analysis with Pro Bono News readers?

Get in touch at news@probonoaustralia.com.au

Get more stories like this

FREE SOCIAL
SECTOR NEWS

Write a Reply or Comment

Your email address will not be published. Required fields are marked *



YOU MAY ALSO LIKE

Businesses Urged to Show Leadership on Stamping Out Modern Slavery

Luke Michael

Tuesday, 4th December 2018 at 6:26 pm

Purposeful Conversations With Colleen Ferrier

Ellie Nikakis

Wednesday, 4th July 2018 at 8:22 am

Ethical Fashion Report Finds Worker Exploitation Still Rampant

Luke Michael

Wednesday, 18th April 2018 at 4:59 pm

POPULAR

The NDIS needs a new plan

Wendy Williams

Tuesday, 3rd December 2019 at 8:15 am

White Ribbon Australia to see another day

Maggie Coggan

Monday, 25th November 2019 at 5:05 pm

Aussie charity wins Business of the Year Award

Luke Michael

Monday, 25th November 2019 at 3:55 pm

Government vows to remove young people with disability from aged care

Luke Michael

Thursday, 28th November 2019 at 8:11 am

2019 Impact 25
pba inverse logo
Subscribe Twitter Facebook

Get the social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!