Refinitiv, Freedom Seal Global Partner on Eliminating Slavery from Corporate Supply Chains
Financial markets data and infrastructure provider Refinitiv announced today a partnership with Freedom Seal Global aimed at helping to eliminate modern-day slavery from corporate supply chains around the world, utilizing risk intelligence data on human trafficking.
Freedom Seal, established by CEO Rani Kong, a survivor of child slavery, is a global trust brand awarded to companies that are committed to the eradication of forced labor and modern-day slavery, as well as human rights abuses, providing audit and due diligence services to manage regulatory and reputational risks.
According to the companies, the partnership with Refinitiv will enable Freedom Seal to use Refinitiv’s World-Check Risk Intelligence data to screen suppliers and vendors on behalf of their clients to identify potential connections to human trafficking. Refinitiv’s World-Check Risk Intelligence data is collated from reputable, public sources by more than 450 specialist researchers. Refinitiv also works with leading NGOs to incorporate data they have gathered from ground operations in under-reported regions around the world.
Using Refinitiv’s data as part of its own independent certification process, Freedom Seal aims to assist clients to determine whether there are any links to modern-day slavery in their supply chains and to help them to put policies in place to minimize such risks.
Rani Hong, CEO of Freedom Seal Global, said:
“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. 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 CEO, Refinitiv at LSEG, said:
“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.”