Financial Markets and Funds partner Neil Robson was recently quoted in Logistics Business and Maritime Insights & Intelligence regarding the impact environmental, social and governance (ESG) factors has on CEO decisions when reviewing supply chain needs. Neil stated, "The fact that 67 percent of polled UK CEOs [by Proxima] are concerned about human rights issues in their supply chains is testament to the fact that ESG is now well-and-truly coming of age. The 'S' – the social element of the Environmental, Social and Governance framework used by firms and investors to assess an organization's business practices – has long taken second or third place to environmental sustainability issues and good governance. However, given ESG's evolution from ethical investing and 'corporate social responsibility,' the social element has to remain in focus."
He added, "Concerns with potential issues around human rights/labor rights in the supply chain seem to have been growing in recent years, following requirements for UK businesses to adhere to the UK Modern Slavery Act, which has been in force since October 2015. As a world-leading piece of legislation, it sets out a range of measures on how modern slavery and human trafficking must be dealt with in the UK and focuses (at section 54) on 'Transparency in Supply Chains.' As the survey notes, addressing human rights issues across the supply chain is a huge challenge, but nonetheless supply chain transparency is a potential area of risk that is becoming increasingly critical – especially where those supply chains are overseas, opaque and unclear. Businesses that hold themselves out as ESG-compliant must address their sustainability and good governance, but they must also understand their impact on their entire supply chain and do their best to ensure they are doing the right thing for all concerned."
"Concerns over Human Rights in Supply Chains," Logistics Business, July 6, 2023
"Human rights groups condemn Portland asylum accommodation plan," Maritime Insights & Intelligence, July 6, 2023
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