Modern Day Slavery Statement
Effective Date: 02/12/2024
Last Updated: 02/12/2024 Rev: 1.0
1. Introduction
Riskoa is fully committed to ensuring that modern slavery and human trafficking have no place in our operations or supply chains. As a growing SME with a strong commitment to sustainability and ethical business practices, we understand the importance of transparency and accountability in preventing forced labour and human trafficking.
This statement is made pursuant to the UK Modern Slavery Act 2015 and aligns with the principles of GRI 409 (Forced or Compulsory Labour). It outlines the actions we have taken and continue to take to address risks of modern slavery within our operations and supply chain.
At the time of writing, December 2024, Riskoa works with 50 suppliers, including 12 based in foreign countries. None of these suppliers are located in countries ranked among the lowest on the Corruption Perceptions Index (CPI). However, we remain vigilant in our oversight of suppliers in India and Vietnam, where risks of unethical practices may be heightened.
This statement forms part of our annual ESG reporting, reflecting our commitment to ethical practices, transparency, and continuous improvement.
2. Our Organisation
Overview:
Riskoa is a UK-based company specialising in lifecycle assessment solutions, including:
The Emvide Platform: An AI-powered tool that enables fast, accurate, and scalable lifecycle assessments.
LCA Factory: A full-service lifecycle assessment delivery model designed to simplify compliance with international standards.
Our operations are primarily based in the UK and Europe, with select outsourced services extending to global suppliers.
Values and Ethics:
Riskoa operates with sustainability, integrity, and transparency at the core of our business. Our ethical principles guide all aspects of our operations and supplier relationships.
Outsourced Services:
We outsource specific operational areas to enhance efficiency, including:
Bookkeeping and Accounting: Managed by UK-based providers.
Product Development: Certain development tasks are offloaded to trusted partners. All product code and server infrastructure are securely hosted in the UK and Europe.
3. Supply Chain and Risk Assessment
Due Diligence Process:
As an SME, Riskoa adopts a realistic yet robust approach to supply chain due diligence. Our process includes the following:
Supplier Code of Conduct: All suppliers must confirm adherence to our Supplier Code of Conduct, which outlines our expectations for labour practices, human rights, and ethical behaviour.
Initial Assessment and Screening:
Suppliers are evaluated using public risk indices (e.g., the CPI) and other available resources.
Additional scrutiny is applied to suppliers operating in regions with heightened risks, such as India and Vietnam.
Engagement Calls and Interviews:
For suppliers without formal documentation, we hold multiple calls to discuss their policies, labour practices, and compliance with local laws.
Ongoing Monitoring:
Regular check-ins and periodic reviews are conducted to ensure continued compliance, particularly for suppliers in higher-risk regions.
Transparency in Practice:
We acknowledge that, as an SME, our resources are limited. While we strive to uphold the highest standards, our hands-on, relationship-driven methodology reflects the realities of our scale and ensures alignment with our ethical values.
4. Steps to Prevent Modern Slavery
Supplier Management:
All suppliers are subject to due diligence processes, including the acceptance of Riskoa’s Supplier Code of Conduct.
Supplier contracts include clauses mandating compliance with anti-slavery laws.
Internal Policies:
Riskoa has implemented the following policies to strengthen our commitment to ethical practices:
Anti-Slavery Policy: Sets out our zero-tolerance stance on modern slavery and human trafficking.
Whistleblower Policy: Provides employees and suppliers with an anonymous channel to report unethical practices.
Employee Code of Conduct: Reinforces expectations for ethical behaviour within Riskoa.
Training and Awareness:
Employees engaged in supplier management receive annual training on identifying and addressing modern slavery risks.
Training materials are updated regularly to reflect emerging risks and global best practices.
5. Governance and Reporting Mechanisms
Oversight:
Responsibility for modern slavery prevention lies with Riskoa’s leadership team, ensuring this issue remains a strategic priority.
Reporting Mechanisms:
Riskoa maintains an anonymous whistleblowing channel for employees, suppliers, and stakeholders to report concerns.
All reports are investigated promptly, with corrective actions taken where necessary.
Integration with ESG Reporting:
This statement is a key component of Riskoa’s annual ESG reporting, which evaluates and discloses our progress in addressing modern slavery risks.
6. Continuous Improvement
Riskoa is committed to enhancing our efforts to prevent modern slavery by:
Expanding our engagement with suppliers to improve compliance monitoring.
Updating and refining our Supplier Code of Conduct to reflect best practices.
Broadening training initiatives to include high-risk suppliers.
7. Conclusion and Approval
This statement reaffirms Riskoa’s zero-tolerance stance on modern slavery and our dedication to ethical practices across our operations and supply chains. It has been reviewed and approved by Riskoa’s leadership team as part of our commitment to transparency and accountability.
Approved by:
Roger Singleton
CEO, Riskoa
8. Contact Information
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