With the release of its Modern Slavery Statement, Bunzl Asia Pacific offers a compelling blueprint for Australian and New Zealand businesses aiming to meet the complexity of modern slavery reporting. The statement provides insights into the operational shifts required to maintain ethical sourcing integrity across complex supply chains.
In Australia, the Modern Slavery Act 2018 requires entities with annual consolidated revenue of at least $100 million to report on the risks of modern slavery in their operations and supply chains. They must also describe the actions they are taking to assess and address those risks through an annual Modern Slavery Statement submitted to the government.
Failure to meet modern slavery reporting standards can result in reputational harm and greater regulatory attention, highlighting the importance of proactive risk management for Australian businesses.
At the core of Bunzl’s strategy is a risk-based framework that prioritises suppliers in higher-risk countries and sectors, using historical audit data, publicly available information and advanced risk-monitoring tools. This approach helps procurement teams anticipate compliance issues and build stronger relationships with suppliers.
Business leaders must also foster a culture of transparency and accountability not only across their supply chain but within their own organisations as well. Bunzl’s Speak Up Policy, supported by accessible reporting channels and visible reminders, demonstrates how businesses can empower employees to raise potential issues early.
By framing modern slavery risk management as an ongoing journey, Bunzl reinforces that compliance extends beyond audits and paperwork. It requires active partnership with suppliers, ongoing training and adaptive strategies aligned with shifting regulatory environments.
