ASIA NEEDS MORE FUNDING AND BETTER DATA TO STAMP OUT MODERN DAY SLAVERY
In order to put an end to forced labor in Asia, more funding and better data on supply chains is needed. Recent findings, regarding the Thai fishing industry, have shed light on the abuses and dangers migrant workers face as part of the $7 billion dollar trafficking industry.
Last year, the United States downgraded Thailand to the lowest “Tier 3” status, deeming it one of the world’s worst centers of human trafficking. “Campaigners said a lack of data on suppliers and contractors meant companies and financial institutions could become unwitting participants in slavery.”
The Freedom Fund, an anti-slavery private donor fund, plans to spend $5 million dollars on developing new tools, in an effort to boost supply chain transparency. Hopefully, this and recent media exposure, will lead to more global companies and producers attempting to tackle forced labor.
“When buyers put pressure on suppliers to stop abuses they can effect change much faster, even in as little as 48 hours,” said Benjamin Skinner, co-founder of Tau Investment Management, a private equity firm that aims to clean up supply chains.
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