MODERN SLAVERY ACT STATEMENT FOR THE LYCRA COMPANY UK – 2024
This statement is made pursuant to section 54(1) of the Modern Slavery Act 2015 and constitutes our slavery and human trafficking statement for the financial year ending 31st December 2024. It sets out the steps we have taken to deal with the risk of slavery in our business and to ensure that there is no human trafficking in our supply chain.
OUR COMPANY
The LYCRA Company produces exceptional fiber and technology solutions for the global apparel and hygiene industries. We are fully committed to operating ethically and in full compliance with all laws and regulations. Our seven Company Principles clearly articulate the behaviors that all employees must adhere to and are the foundation of our Company.
The LYCRA Company employs approximately 2,500 globally, with 350 employees within the UK.
We train our employees on our Principles, including:
Our Ethics and Compliance Principle, which requires employees to:
- Exhibit strong principled behavior.
- Comply with all laws and regulations.
And our Humility and Respect Principle, which requires employees to:
- Treat everyone with respect and appreciate the value of diversity.
OUR POLICIES
We take the subject of human slavery very seriously, as per our Code of Conduct which states: we do not use Forced Labor / Human Slavery or in any manner support human trafficking.
Through training on our Code of Conduct, and ongoing dialogue on our Principles, we ensure that our commitment to integrity and lawfulness is embedded in the workforce. Employees are encouraged to apply sound judgment, critical thinking, and the courage to do the right thing, even if that means the loss of a business opportunity.
Our employment practices mean that no employee is below the age of 18, with the exception of apprentices who must be a minimum of 16 years old when commencing employment. Each employee’s identification is verified at the point of employment.
DUE DILIGENCE PROCESSES
Our expectations regarding forced labor and human slavery are also made clear to our raw material suppliers and contractors. Whilst we consider our risk of exposure to modern slavery to be limited in our supply chains, we expect our suppliers and contractors to demonstrate a zero-tolerance approach to exploitation.
RISK ASSESSMENT AND MANAGEMENT
Whilst we consider our risk of exposure to modern slavery to be limited in our supply chains, we expect our suppliers and contractors to demonstrate a zero-tolerance approach to exploitation.
MONITORING AND EVALUATION
We measure our effectiveness in ensuring that slavery and human trafficking are not taking place in our business and supply chains through performance indicators such as compliance audits, supplier assessments, and employee training programs.
TRAINING
We provide multiple channels for employees to confidentially and anonymously report any ethical concerns, including concerns about slavery or human trafficking, without fear of retaliation or harassment. Our training programs ensure that our staff are aware of the risks of modern slavery and human trafficking and know how to identify and report any concerns.
APPROVAL
This statement is written evidence of The LYCRA Company’s commitment to stamp out forced labor, slavery, and human trafficking. It is approved by our UK Board of Directors.