TrusTrace partners with Kharon on forced labour

YarnsandFibers News Bureau 2023-04-13 19:11:51 – India

Traceability solutions provider TrusTrace, is collaborating with Kharon, a premier source of research and data analytics on international trade compliance, sanctions, and other significant business concerns, to assist fashion companies and retailers in addressing risks associated with forced labor in their supply chains.

The partnership will assist retailers and clothing manufacturers in risk management and evidence gathering to prove compliance with international supply chain regulations like the Uyghur Forced Labor Prevention Act (UFLPA) in the US and related regulations being created by the European Union.

By utilizing Kharon's risk and insights, which would highlight suppliers with a higher risk of exposure to forced labor directly on the TrusTrace platform, TrusTrace said that the cooperation with Kharon will "strengthen processes and risk identification" for its clients. Suppliers presented by TrusTrace will be continuously compared to the Kharon-identified high-risk businesses, and if there is a match, the supplier risk will be indicated.

Shameek Ghosh, co-founder and CEO of TrusTrace, said that retail and fashion companies all over the world need to understand who their suppliers are and what materials they are using in order to comply with the UFLPA law. With current information incorporated, their relationship with Kharon will make it simple to evaluate the risk of a certain supplier's connections to forced labor.

Kit Conklin, vice president of global client engagement at Kharon, said that businesses must recognize that the risks of inaction are simply too great as forced labor awareness continues to accelerate and as global regulations focusing on forced labor increase. Companies can proactively reduce risk to safeguard themselves from the negative legal, financial, and reputational repercussions associated with supply chain abuse by utilizing Kharon's data in conjunction with TrusTrace's robust due diligence solutions.

Additionally, according to TrusTrace, product upgrades for the UFLPA will be made available over the course of the following two quarters, giving national and international fashion and retail businesses access to verified data as raw materials and completed goods move through the supply chain. It claims that the system will enable brands and suppliers to standardize the collection, digitisation, and sharing of supply chain and material traceability data.

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