Overview

This bill mandates large UK companies to publicly disclose their efforts to eradicate slavery, human trafficking, forced labor, and the worst forms of child labor from their supply chains. It requires transparency in their actions and aims to protect victims.

Description

The Transparency in UK Company Supply Chains (Eradication of Slavery) Bill requires companies with over £100,000,000 in annual worldwide gross receipts to annually report on their actions to combat these issues.

Disclosure Requirements:

Companies must detail their efforts in their annual report and on their website, including:

• Verification of supply chains to identify and address risks.
• Audits of suppliers to ensure compliance with company standards.
• Supplier certifications confirming legal compliance.
• Internal accountability standards and procedures.
• Employee training on these issues.
• Ensuring ethical recruitment practices at all supplier levels.

If a company lacks a website, they must provide the disclosure to consumers within 30 days of a written request.

Victim Protections:

Companies discovering these abuses in their supply chains must take appropriate action to assist victims and report on these actions in their annual reports.

Government Spending

The bill doesn't directly specify government spending. The cost is likely to be indirect, potentially involving increased enforcement and regulatory oversight.

Groups Affected

• Large UK companies: Increased compliance costs and reporting burdens.
• Suppliers: Pressure to improve ethical practices and transparency.
• Consumers and investors: Greater access to information about company ethical standards.
• Victims of exploitation: Potential for improved protections and support.

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