Unveiling the Multi-Jurisdictional Template and Guidance for Contemporary Slavery Reporting
The International Labour Organization (ILO), in collaboration with the governments of the United Kingdom, Australia, and Canada, has published an optional template for reporting on modern slavery, forced labor, and child labor. This template, which is not legally binding, provides a framework for entities to demonstrate their commitment to eradicating these issues.
The template encourages proportionate, risk-based reporting, with disclosures tailored to the degree of risk present. The focus is on people's risk rather than financial or reputational risk. Entities are advised to exercise caution when implementing the template, as some suggested disclosures may exceed the minimum requirements under applicable legislation.
For Canadian reporting entities, the next reporting deadline is May 31, 2026. Entities incorporated under the Canada Business Corporations Act must also deliver a copy of their reports to shareholders with their financial statements, often necessitating finalization well before the filing deadline.
It is crucial for entities to ensure their reporting aligns with the specific legal requirements of each jurisdiction. The template's introduction by the United Kingdom, Australian, and Canadian governments presents an opportunity for streamlined compliance for entities operating across multiple jurisdictions.
The template emphasizes transparency in supply chain, with a focus on Level 1 information (required disclosures) and Level 2 information (additional disclosures to demonstrate progress and leadership). Continuous improvement and a commitment to eradicating modern slavery are expected in all three jurisdictions, as reflected in both the Level 1 and Level 2 disclosures.
All reporting entities, regardless of their reporting obligations in multiple jurisdictions, are recommended to review the template alongside jurisdiction-specific guidance. This will ensure that disclosures are consistent with the specific legal requirements and guidance in each jurisdiction.
In conclusion, the new international template for modern slavery reporting offers a valuable resource for entities seeking to improve their transparency and commitment to eradicating modern slavery, forced labor, and child labor. By understanding the template's guidelines and ensuring compliance with local legal requirements, entities can take a significant step towards a more ethical and responsible business practice.
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