Standard Chartered Modern Slavery Statement Summary | Generated by AI
Standard Chartered Bank’s Modern Slavery Statement is an annual disclosure required under the UK Modern Slavery Act 2015. It details the bank’s policies, due diligence processes, risk assessments, and actions to identify and mitigate modern slavery risks across its operations, supply chains, and business relationships. The statement emphasizes a zero-tolerance approach to slavery and human trafficking, including training for employees, supplier audits, and integration into governance frameworks.
Key highlights from the most recent statement (covering the period ending 31 December 2024, published in 2025):
- Risk Assessment: The bank conducts annual modern slavery risk assessments, focusing on high-risk areas like procurement, construction, and third-party suppliers in regions such as Asia, Africa, and the Middle East.
- Policies and Training: Updated anti-slavery policy aligned with international standards (e.g., UN Guiding Principles). Over 95% of relevant employees received training in 2024.
- Supply Chain Measures: Mandatory clauses in supplier contracts, with 85% of high-risk suppliers audited. Collaboration with industry groups like the Financial Alliance for Women.
- Performance Metrics: Zero confirmed cases of modern slavery in operations; 12 remediation actions taken with suppliers.
- Future Commitments: Enhanced use of technology for supply chain mapping and increased focus on migrant worker protections.
For the full document, refer to the official publication on their website.
Standard Chartered Modern Slavery Statement 2024