Sustainable Procurement News
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Sustainable Procurement News
Latest news, trends, ideas on Sustainable / Responsible Procurement and Green Supply Chain from EcoVadis
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Australian companies 'significantly exposed' to slavery risk—investors

Australian companies 'significantly exposed' to slavery risk—investors | Sustainable Procurement News | Scoop.it

Australian companies are “significantly exposed” to modern slavery in their supply chains, with sectors ranging from finance and mining to healthcare most at risk, an influential group representing some of the country’s biggest investors said. Australia last month became only the second country in the world to bring in an anti-slavery law, requiring large companies to report on modern slavery risks in their supply chains. In a report published on Thursday, it called on investors to apply pressure on companies to ensure meaningful reporting, saying slavery threatened shareholder value in addition to its devastating human impact.

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Australia’s Modern Slavery Act Sets New Global Benchmark

Australia’s Modern Slavery Act Sets New Global Benchmark | Sustainable Procurement News | Scoop.it

International companies will need to monitor new human rights legislation in countries where they have important business relationships, not just their home jurisdictions. At the same time, going beyond the details of individual laws, firms should be ready for a process of continuous improvement in human rights standards in supply chains. This process starts with enhanced risk assessment.

EcoVadis's insight:

More than 40 million people are currently living in modern slavery. However, much is being done in terms of international and national regulations to eradicate the modern slavery, and businesses worldwide are becoming increasingly committed to sustainable procurement. In order, to make a real difference, more emphasis needs to be placed on truly understanding the plight of the people who end up in forced labor.

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Praise after Australia's first federal Modern Slavery Act becomes law

Praise after Australia's first federal Modern Slavery Act becomes law | Sustainable Procurement News | Scoop.it
Businesses with turnovers of more than $100 million will have to report what they are doing to stamp out slavery in supply chains after legislation got the final tick of approval in parliament.

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Youfoodz Australia implements Oracle NetSuite to increase visibility and control over supply chain 

Youfoodz Australia implements Oracle NetSuite to increase visibility and control over supply chain  | Sustainable Procurement News | Scoop.it

One of Australia’s fastest growing food delivery service companies has implemented key cloud technology to revolutionise its delivery service visibility and gain greater control over its supply chain and financial processes.

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Australia Starts Tackling Modern Slavery

Australia Starts Tackling Modern Slavery | Sustainable Procurement News | Scoop.it
A new law in Australia requires companies of a certain size operating in Australia to publicly state the steps they are taking to keep their supply chains free from the worst forms of modern-day slavery. The law, which went into effect on January 1st, is aimed at ending child and forced labor as well as human trafficking.
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