The impacts of Australia’s new Modern Slavery legislation are already being felt across corporate Australia as organisations come to terms with the new legislation imposed from 1 January 2019.
Those impacted by the new legislation include Australian medical glove manufacturer Ansell, who were subject to allegations that its Malaysian glove supplier had been exceeding overtime limits, imposing hefty recruitment fees and salary deductions and subjecting their workers to crowded and isolated working conditions.
In response to these claims, Ansell advised they would investigate the allegations ensuring they adhere to Australian’s modern slavery laws and assess the risks identified in the operations of its suppliers, within the context of the modern slavery framework for reporting and remediation.
From 1 January 2019, Australian entities and Government corporations that have an annual consolidated revenue of more than $100 million will now report annually on the risks of modern slavery within their operations. Businesses will be required to publish annual modern slavery statements, articulating details of potential modern slavery risks within their extended supply chain and outlining the actions being taken to address these risks.
For more information on modern slavery legislation and how to develop a strategic modern slavery compliance framework, read our part one blog – The taste of modern slavery.