Modern slavery and human trafficking policy and awareness training
Ricardo plc is committed to meeting its obligations as a leading supplier to its clients including those obligations in respect of Modern Slavery, Human Trafficking and Child Labour as laid out in the UK Modern Slavery Act 2015. The Group does not tolerate Modern Slavery, Human Trafficking or Child Labour practices within any of its businesses or in any part of its supply chain.
The Group's activities and business models are described in the Strategic Report within the most recent Report and Accounts.
The Company and its Divisions consider that they operate with a low risk of these activities for the following reasons:
- The largest cost in the business is the cost of our own employees, where we have clearly defined values and policies to respect all staff, act with integrity and treat them fairly as summarised in our Code of Conduct
- We have few employees in higher risk countries, the majority of our employees being in very low risk countries
- The countries where we purchase materials are largely low risk, where there is a medium risk, we assess risk and make selected enquiries as part of our supplier quality assurances processes
- The countries where we purchase services are largely those where we operate and include things such as utilities where we have limited control over the supplier selection and property leases
- For production purchasing (Performance Products segment) we have established supplier quality assurance processes which include risk-based site visits to our suppliers
The Group has Modern Slavery and Human Trafficking related training for key staff.
The Group included risk-based compliance evaluations as part of its assurance programme in FY 18/19 and expects to repeat this in alternate years. There were no material concerns identified.
The statement and the risks will be reviewed annually in the light of good practice, operating experience and current risk profile.
Dave Shemmans (Chief Executive Officer)
12 September 2019