As an organisation that has evolved into the 21st century model for social business we are driven by a purpose, shared with the Lloyd’s Register Foundation, of working together for a safer world. Consequently, any modern slavery is completely incompatible with our values and LR supports the elimination of all forms of modern slavery.
Managing Modern Slavery Risks
LR has a zero-tolerance approach to modern slavery and our Code of Ethics helps us to ensure that we do things safely, ethically and responsibly. Its role is to ensure that everyone who works for, or with a member of the Lloyd’s Register Group understands that unlawful or unethical business practices will not be tolerated.
LR is also a signatory to the UN Global Compact and its ten principles on human rights, labour standards, environment and anti-corruption. We are committed to ensuring that these principles are reflected in our business strategy, day-to-day operations, organisational culture, sphere of influence and relationship with suppliers.
The group’s Ethics and Compliance Committee reports to the Audit and Risk Committee and has ownership of our Code of Ethics and whistle-blowing policy, which helps us to ensure compliance with legislation including requirements that slavery should not take place within our business or supply chain.
All our employees and contractors are required to comply with this policy safeguarding against modern slavery.
Other key LR Policies associated with safeguarding against Modern Slavery
- Speaking Out
Our whistleblowing facility seeks to ensure that all employees and contractors can raise with the Group’s Ethics and Compliance Committee, serious concerns, which they believe indicate malpractice or wrongdoing within Lloyd’s Register, without fear of being dismissed or otherwise disciplined or jeopardising their position.
- Responsible Sourcing
We have a policy for our suppliers to commit, to fair employment policies, including humane treatment of their employees and no use of child labour, consistent with our commitment to act against any form of modern slavery. The nine principles of this policy focus on environmental, ethical and social responsibility and are anchored in internationally recognised standards, including the UN Guiding Principles on Business and Human Rights, the Universal Declaration of Human Rights and the Global Compact.
Group General Counsel and Corporate Secretary
2nd July 2019