Online Retailer Calls for Tougher Legislation to Combat Human Rights Abuses
- Asos calls for new law to strengthen the 2015 Modern Slavery Act
- European Commission developing legislation for the EU
- UK companies to prevent and mitigate risks in supply chains
- Anti-Slavery International advises Asos on modern slavery policies since 2017
- Nick Beighton, CEO of Asos, supports stronger laws against human rights abuses
Asos has urged the implementation of a new mandatory human rights due diligence legislation in the UK to strengthen the 2015 Modern Slavery Act, which is currently being developed by the European Commission for the EU. This legislation aims to ensure that UK companies take steps to ‘prevent and mitigate risks’ and protect vulnerable people within their supply chains. Since 2017, Asos has received guidance from Anti-Slavery International on modern slavery policies, in-country program work, and practices. CEO Nick Beighton stated, ‘There is absolutely no place for modern slavery in today’s world, and all companies and brands must now share the risks they have identified and the actions they have taken to ensure we can work together to deliver effective change.’ Anti-Slavery International’s Jasmine O’Connor welcomed Asos’s call for a new UK law to hold companies accountable for human rights abuses, hoping other UK businesses follow suit.
Factuality Level: 10
Factuality Justification: The article provides accurate information about Asos’s call for a new mandatory human rights due diligence legislation in the UK, mentions the involvement of Anti-Slavery International in their policies and practices, and includes quotes from both CEOs. It is relevant, objective, and focused on the main topic without any unnecessary details or bias.
Noise Level: 3
Noise Justification: The article provides relevant information about Asos’ call for a new mandatory human rights due diligence legislation in the UK and its partnership with Anti-Slavery International to address modern slavery risks in supply chains. It also includes quotes from key figures supporting the initiative. However, it lacks in-depth analysis or exploration of long-term trends or consequences.
Financial Relevance: Yes
Financial Markets Impacted: Asos
Financial Rating Justification: The article discusses Asos’s call for a new legislation that could impact their supply chain management and potentially affect their financial performance, making it financially relevant.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the text.
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