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Recent years have seen calls for major changes in human rights due diligence and reporting gathering momentum. This tidal wave of governments making legislation that holds businesses legally accountable isn’t stopping any time soon. In addition, NGOs, investors and consumers are demanding more than just the bare minimum when it comes to business and human rights practices.
Business risk relating to human rights issues is a growing area of concern for companies today. The shifting regulatory landscape is challenging to navigate and implementing best practices to mitigate risk can be daunting. The U.K. Modern Slavery Act obliges all commercial organisations supplying goods or services, with an annual turnover in excess of £36m, to prepare a slavery and human trafficking statement in their annual financial statement.
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