While environmental sustainability goals have become a high priority for consumers and businesses with a global call to action on climate change, other ESG issues haven’t gotten as much attention. For many organizations advocating for human rights in the supply chain is a material priority, and one of the most pressing issues involves ensuring there is no forced labor and child labor in supply chains. But how do you know?
-In its 2016 study, the International Labour Organization (ILO) estimated that 40.3 million people worldwide were victims of modern slavery at any given time, 25 million of whom were in forced labor.
-To narrow the focus further, an estimated 16 million people were exploited in the private sector. A few years earlier, in 2014, the ILO estimated that forced labor generated annual profits estimated at USD 150 billion.
-Women and girls are disproportionately affected, accounting for 71% of those affected by modern slavery. Children represent one-quarter of the total number of victims.
President Biden on Dec 23, 2021 signed into law the Uyghur Forced Labor Prevention Act, a bipartisan bill that bans imports from China’s Xinjiang region unless the importer can prove they were not made with forced labor.
https://www.washingtonpost.com/politics/biden-uyghur-labor-law/2021/12/23/99e8d048-6412-11ec-a7e8-3a8455b71fad_story.html
In Episode 68, Justin Dillon, CEO of FRDM shares that, “The COVID-19 pandemic has taught us how broken and opaque supply chains truly are. Supply chain operations and oversight has lagged far behind the innovation curve. Companies today are expected to solve bigger and deeper problems in their supply chains, such as environmental and human rights risks.”
➡️ I am proud to have Justin back as a retuning guest on MLK day to kick off 2022 and to help organizations ensure human rights are protected across global networks by:
– Understanding and mapping your network
-Organizing your company’s supplier and spend data
– Creating a predictive bill of materials for everything you buy and applying estimates about environmental, social and business continuity risks
– Helping you engage with suppliers, using its toolkit to reduce risk and increase your resilience
– Producing helpful reports for your team, stakeholders and regulators
– Helping you track improvements to your supply chain and constantly improving your resilience
FRDM is the next wave in predictive and proactive ESG risk resilience to realize sustainable outcomes. Organizations that lead on sustainability and impact do not approach them as secondary objectives. They integrate the related objectives into their core motivation, radically altering the corporate equation for success. Companies face numerous barriers to addressing modern slavery, but technology can be an enabler for change. Modernizing the supply chain for greater transparency can create a more visibility and equity for all.
FREE WHITE PAPER ➡️ https://lnkd.in/eEr_hWv7
Learn more FRDM and Justin here - FRDM.co
Supply Chain Revolution