FOR IMMEDIATE RELEASE
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Melbourne, Victoria, 20 September 2023 – givvable, a leading provider of automated supplier sustainability and ESG diligence solutions, and the Monash Centre for Financial Studies, have announced a partnership to make the Disclosure Quality Index for Modern Slavery Statements more accessible so businesses can be more informed about modern slavery risks. Under the Australian Government's Modern Slavery Act (MSA), reporting entities are required to adhere to seven mandatory reporting criteria.
The Monash Centre for Financial Studies' (MCFS) Modern Slavery Disclosure Quality score repacks these reporting criteria into five distinct categories, providing an overall quality grade for the statements. The enhanced methodology delves into granular elements of risk identification, due diligence and remediation processes, and key performance indicators, offering valuable insights into best practices.
Dr Nga Pham, Senior Research Fellow at MCFS stated, "We are thrilled to partner with givvable to promote transparency and drive improvement in modern slavery reporting. Our enhanced methodology empowers businesses to better understand their modern slavery risks and implement effective mitigation strategies. Through this collaboration, we aim to foster a culture of accountability and responsibility."
Frances Atkins, CEO and Director of givvable, highlighted the benefits of the partnership, saying, "By combining givvable's comprehensive supplier sustainability and ESG diligence tool with the MCFS expertise in modern slavery reporting, we can provide organizations with the means to continually track and evaluate the actions and credentials of their suppliers while better understanding the level of commitments and efforts that companies have put into managing modern slavery risks.
This partnership will enable businesses to enhance the assessment of modern slavery risks and how they are being addressed throughout their supply chains. This is an important development, particularly as regulatory requirements around supplier diligence continue to tighten."
By making the Modern Slavery Disclosure score more accessible to all businesses via givvable, whether they are a reporting entity or not, means organizations can proactively identify areas for improvement, learn about the effectiveness of various strategies and implementations from peers, strengthen their policies, and more effectively assess and address modern slavery risks in their supply chain.
For further information about givvable and the Monash Centre for Financial Studies' partnership, please refer to contact details below:
About givvable: givvable is a multi-award-winning automated supplier sustainability and ESG diligence tool that helps organizations continuously track the actions, attributes, and credentials of their suppliers. The platform covers all categories of ESG and comprehensively maps suppliers to corporate objectives, ESG themes, the UN SDGs, and commonly used reporting standards and frameworks.
Contact us: https://www.givvable.com/contact
About Monash Centre for Financial Studies: The Monash Centre for Financial Studies part of Monash Business School at Monash University is at the forefront of research and analysis on modern slavery reporting. Its Modern Slavery Disclosure score provides a comprehensive assessment of Modern Slavery Statements, offering valuable insights into best practices for businesses and organizations.
Contact us: https://www.monash.edu/business/contact-us