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Li & Fung committed to eradicating modern slavery, discloses 2022 Modern Slavery Statement
According to the latest global estimates by ILO, the number of people who have been forced into modern slavery has continued to rise over the past few years, with an estimated 50 million people affected in 2021. Li & Fung recognizes the seriousness of this issue and is firmly committed to eradicating modern slavery within its sphere of influence.
To achieve this goal, Li & Fung takes a zero-tolerance approach towards modern slavery, which is integrated into its supply chain due diligence framework. The framework includes robust company management systems, frequent risk assessments and monitoring, prevention strategies like training and industry collaboration, and remediation measures if modern slavery risk is found.
In line with the UK Modern Slavery Act and The California Transparency in Supply Chains Act, Li & Fung’s 2022 Modern Slavery Statement outlines our strategies to address forced labor and other forms of labor exploitation. The statement is the company’s seventh disclosure on modern slavery and details its operational approaches towards the issue.
We are committed to eliminating modern slavery and promoting ethical labor practices is critical to conducting business responsibly, as well as in building trust with clients and stakeholders. Through its zero-tolerance stance towards modern slavery and its comprehensive framework for supply-chain due diligence, Li & Fung demonstrates its dedication towards creating a fair and healthy work environment.
