Modern Slavery Statement
Regal Beloit operates a Zero Tolerance attitude towards Modern Slavery and Human Trafficking. In line with the UK Modern Slavery Act 2015, we have reviewed our existing compliance and risk management processes to determine what measures exist and what further measures may be required to ensure that slavery and human trafficking does not take place in any part of our businesses or supply chains. The policy below sets out our approach and governs all of our business dealings and the conduct of all persons or organisations with whom we contract directly or who we appoint to act on our behalf.
We advise that all employees familiarise themselves with this policy to ensure that they act at all times in a manner that is consistent with the values set out below.
1. Purpose of this policy
1.1. Modern Slavery is a criminal offence under UK Modern Slavery Act 2015 “Modern Slavery Act”. It can occur in various forms including servitude, forced or compulsory labour and human trafficking, all of which have in common the deprivation of a person’s liberty by another in order to exploit them for personal or commercial gain. This policy sets out how Regal Beloit intends to prevent this from happening within its businesses or supply chain.
1.2. We have a zero tolerance approach to Modern Slavery and are committed to acting ethically and with integrity in all of our business dealings. We aim to ensure that our systems and controls do not allow Modern Slavery to take place anywhere in our own businesses or in those of our suppliers.
2. Steps to prevent Modern Slavery
2.1 We are committed to ensuring our business is transparent and our approach to tackling modern slavery through our supply chains is consistent with our disclose obligations under the Modern Slavery Act. We expect the same high standards from all of our contractors, suppliers and other business partners.
2.2 We prohibit the use of forced, compulsory or trafficked labour and expect our suppliers to hold their own suppliers to the same high standards.
2.3 All team members have an obligation to familiarise themselves with this policy to help in the identification and prevention of modern slavery and to conduct business in a manner such that the opportunity for and incidence of modern slavery is prevented. Adherence to this policy forms part of all team member’s obligations under their contract of employment.
2.4 Whilst recognising our statutory obligation to set out the steps we have taken to ensure that modern slavery and human trafficking is not taking place in our supply chains, we acknowledge that we do not control the conduct of individuals and organisations in our supply chains. To underpin our compliance with practical steps, we intend to implement the following measures:
I. Conduct risk assessments to determine which parts of our business and which of our suppliers are most at risk of modern slavery so that our efforts can be focussed on those areas.