Financial data company Refinitiv and Freedom Seal Global are partnering up to harness risk intelligence data on human trafficking to eradicate modern slavery in the supply chain.

The collaboration was announced as the European Commission pushes for new regulation on corporate governance that includes human rights and environmental due diligence requirements.

The Freedom Seal was established by Rani Hong, who as a child was stolen from her family and sold into slavery.

The organisation is a global mark of trust awarded to companies that are effectively taking action to stamp out modern-day slavery.

The partnership with Refinitiv will enable it to use World-Check Risk Intelligence data to screen suppliers and vendors on behalf of their clients to identify potential connections to human trafficking.

“While there are many methods to assess compliance risk at the transactional level, there is no pool of companies that have been independently pre-vetted. This means that supply managers have no objective sourcing filter to pre-select good companies when making purchasing decisions,” said Rani Hong, chief executive of Freedom Seal Global. “Our certification program allows companies, which are compliant with or taking the extra steps to help in the fight against modern-day slavery, to display their earned and trusted status to the world.”

David Craig, group head data & analytics and chief executive, Refinitiv at LSEG:
“We are supporting the Freedom Seal to help businesses tackle the scourge of modern-day slavery which is estimated to affect over 40 million men, women and children globally,” “The use of data is critical to uncover links to forced labour in companies’ supply chains and collaboration between the public and private sectors is key to bringing forward more innovative solutions.”

Share Story: