Many would assume that modern slavery is a relic of the past or a devastating abuse only experienced in the far corners of underdeveloped impoverished communities. The reality is, more than 40 million people worldwide are believed to be victims of modern slavery, including 15,000 in Australia. From every perspective – reputational, financial and ethical – this is not acceptable in the 21st century.
In November 2018, the Australian Federal Government passed the Modern Slavery Act into law.
CIPS strongly welcomes this milestone as a timely and necessary step to prevent, address and ultimately eliminate abuses in supply chains.
This Bill will help the Australian business community to take proactive and effective action to address modern slavery and help mitigate the risk of modern slavery practices occurring in the supply chains of goods and services in the Australian market. But what does it all mean?