Z Energy (NZX:ZEL): Look at the Modern Slavery Statement 2021

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Z Energy (NZX:ZEL): Look at the Modern Slavery Statement 2021

 Z Energy (NZX:ZEL): Look at the Modern Slavery Statement 2021
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Highlights

  • Z Energy published Modern Slavery Statement on Tuesday.
  • The Group is committed to make sure there are processes to lower the likelihood of modern slavery practices in its operations or supply chains.

Z Energy Limited (NZX:ZEL) released Modern Slavery Statement on 14 December. The Group is committed to fulfilling the requirements of Australia’s Commonwealth Modern Slavery Act 2018.

ZEL has released the second Modern Slavery Statement under the Act. The Company described the types of modern slavery risks that ZEL faces in its operations and supply chains, actions taken to deal with these risks and assessment of the usefulness of the Company’s actions.

Z is involved with Flick Energy Limited to track modern slavery practices within the organisation.

The Group did not find any instances of modern slavery practices in its operations/supply chains for 12 months ended 31 March 2021.

Some of the operational risks involved can be risks in its recruitment process, business relations, or supply chains.

Z continued to work to evaluate the likelihood of modern slavery practices in relation to its tier 1 suppliers in FY21.  Some of the high-risk areas in tier 1 suppliers included using high number of migrant, young or elderly workers, providing Z or Caltex-based merchandise, using unskilled/temporary or seasonal labour etc.

ZEL’s action plan to address these risks include:

  • Govern: Action and engagement has been developed, market disclosures for modern slavery have been made
  • Identify: Areas of modern slavery have been identified
  • Remediate: Strengthening of supplier contract terms, supplier code of conduct has been relaunched and remediation process has begun
  • Engage: Controlled entity engagement.

Bottom Line

ZEL remains committed to make sure it has processes to lower the likelihood of modern slavery practices in its operations or supply chains while having open communication channels to enable any incidents to be reported.

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