According to the most recent figures released by the International Labour Organization, a specialized agency of the United Nations, nearly 21 million people around the world, including children, are victims of forced labor.
This generates approximately $150 billion in annual illegal profits globally and is most prevalent in the agricultural, construction, and manufacturing industries, among others.
These numbers are a sobering and grim reality. For any company that provides goods to the public, a reliable and ethical supply chain is paramount. In my recent discussion with Melissa Pinheiro, we review the far-reaching aspects of forced labor, and how, thanks to various legal requirements and pressure from consumers, companies are facing the need for more transparency regarding due diligence around their suppliers.
Government agencies around the world are cracking down on forced labor, issuing violations and potentially hefty fines to shippers. There is a universal need for companies to establish compliance systems to ensure their businesses and supply chains are free from forced labor.
Tune in to the full episode below to hear more about forced labor in the supply chain and what steps you can take to ensure your business is compliant.
