World Economic Forum op-ed says business sector has not treated issue of forced labour with "urgency it requires" & outlines ways to tackle it
“Urgent action against forced labour is possible. Here's how”
The risk and prevalence of forced labour in global supply chains remains unacceptably high. Exposure to this most egregious human rights violation is a material problem for multinational companies. Big businesses face significant penalties if they don’t undertake effective human rights due diligence and run the risk of trade interdictions if they import goods made with forced or child labour to the US or EU.
Analyses indicate an increase in vulnerability to forced labour across the globe with conflict, climate change and other unresolved factors contributing to this rise. Business leaders must recognize that failure to act comes at a cost. Ignoring these trends calls into question the validity of the various voluntary, industry-led initiatives that have grown over the past decade and contributes to a loss of trust from consumers and the public.
Addressing forced labour in supply chains is complex. Supply chains are intricate, networks overlap and intersect and economic pressures are real. While some individual companies have taken bold steps to address and prevent forced labour, the business sector as a whole has not treated this issue with the urgency it requires – an urgency mandated by law. Collective action among businesses is needed…