10 Voices, 10 Strategies: Beyond compliance in eradicating modern slavery

Featuring Tim Nelson, CEO of Hope for Justice and Slave-Free Alliance.

The scale of modern slavery today is unprecedented. Globally, it’s estimated that 49.6 million people are trapped in some form of modern-day slavery, and over 27 million of them are in supply chains linked to major multinational businesses. These are not just statistics — they represent real people, living in desperate conditions, exploited in the production of goods and services we all consume.

The financial impact of modern slavery is staggering, generating an estimated £191 billion for those who exploit others. Yet, despite this massive scale, only around 115,000 individuals were rescued last year. The enormity of the challenge before us is clear: this is not a problem that one organization, government, or sector can solve alone. It will take a coordinated, multi-faceted approach involving businesses, governments, and individuals.

To illustrate how intertwined modern slavery is with our everyday lives, take tantalum, a material derived from coltan. Tantalum is used in the capacitors of most electronic devices, from phones to medical implants. Unfortunately, in regions like the Democratic Republic of Congo, children are often forced to work in dangerous conditions to mine this essential mineral.

At Hope for Justice and Slave-Free Alliance, we aim to support businesses in addressing these issues. Here are five strategies I believe are essential for companies committed to eradicating modern slavery:

1. Don’t delay taking action – Waiting for the “right” time to make changes in your business is a mistake. With legislation like the EU’s Corporate Supply Chain Due Diligence Directive (CSDD) on the horizon, companies will face fines of up to 5% of global turnover for complicity in modern slavery. The time to act is now.
2. Prioritize transparency – It’s easy to turn a blind eye, but true change comes from leaning into the difficult conversations and being transparent about the challenges in your supply chain. Technology and AI can help pinpoint areas of concern.
3. Move beyond audits – While audits are useful, a more integrated approach that treats suppliers as partners will yield better long-term results. Working collaboratively can help identify and resolve issues together.
4. Embed responsible purchasing strategies – Cutting costs should not come at the expense of human rights. By embedding responsible purchasing practices, businesses can ensure that exploitation isn’t occurring in their supply chains.
5. Develop impact indicators – Measuring performance against anti-slavery goals is crucial. Having these indicators in place will help track progress and ensure that your company’s modern slavery statements are backed by actionable results.

While these steps won’t solve the problem overnight, they are critical in the ongoing battle to eradicate modern slavery. Freedom is not an event but a process, and businesses must stay committed. I believe that together, we can make meaningful strides towards a world free from slavery.

In closing, every day is an opportunity to learn, grow, and do more. These individuals are someone’s son, daughter, parent — and it’s our responsibility to protect them. I hope this inspires you to take bold action and work towards a better, safer future for all.