Anti-Modern Slavery and Human Trafficking Statement and Policy
Anti-Modern Slavery and Human Trafficking Statement and Policy: Due Diligence and Transparency in Supply Chain
There is a growing concern among all stakeholders in a range of industries about the potential for human trafficking in the supply chain. Regulatory bodies, investors, manufacturers, and other organizations face challenges in responding effectively to these concerns. This is especially more complex for those that have a global supply chain.
Magnetic Sensors Corporation (MSC) is among the companies that comply with conflict minerals disclosure and thus has a strong framework for addressing similar anti-human trafficking requirements. Human trafficking includes, inter alia, forced labor, child labor, slavery, coercion, abduction, fraud, and exploitation connected with labor.
MSC has a zero-tolerance approach to modern slavery and is fully committed to preventing slavery and human trafficking in its activities. MSC is also committed to ensuring transparency in its approach to tackling modern slavery in its business and its supply chains. At MSC, we recognize that we all have a responsibility to be alert to the risks, however small, in our own business and the wider supply chain.
We are committed to ensuring that there is no modern slavery or human trafficking in our supply chains or any part of our business. Our Anti-Slavery and Human Trafficking Policy prohibits the use of forced, compulsory, or trafficked labor, or anyone held in slavery or servitude, whether adults or children by any of our contractors, suppliers, or other business partners. As such, it reflects our commitment to acting ethically and with integrity in all our business relationships and to implementing and enforcing effective systems and controls to ensure slavery and human trafficking are not taking place anywhere in our supply chains.
MSC expects its staff to remain vigilant in identifying circumstances where there is a risk that modern slavery might be occurring in any part of its business or any of its supply chains; to report any such circumstances to senior management in full and without delay; and to conduct their own personal and domestic affairs in such a way to ensure that they are in no way connected with modern slavery either through the commission of a criminal offense or through actions or omissions that might bring themselves and the Company into disrepute.
MSC expects the same standards from its contractors, suppliers, and other business partners. The Company will seek to ensure, where reasonably practicable, that its contractors, suppliers, and other business partners are contractually obliged to comply with terms that reflect the spirit and intention of this Policy in their own businesses and their own supply chains in support of the general eradication of modern slavery.
MSC is committed to transparency in its approach to tackling modern slavery consistent with its disclosure obligations under law.