TMNF's Slavery and Human Trafficking Statement for the fiscal year 2015
Tokio Marine & Nichido Fire Insurance Co., Ltd.(President Toshifumi Kitazawa, hereinafter “TMNF”）has published “Slavery and Human Trafficking Statement for the fiscal year 2015(hereinafter “Statement”)” in response to “UK Modern Slavery Act 2015(hereinafter “MSA”)” on its corporate website.
TMNF will contribute to create a safe, secure and sustainable future through striving to prevent slavery and human trafficking in corporation with employees and business partners.
Please see the following Statement.
- Background of the enactment of MSA
As the International Labour Organization(ILO) reported that the number of victims of forced labour were approximately 21 million people (as of 2012) and it generated US$150 billion in illegal profits per year, slavery and human trafficking is still a serious societal issue in the modern era.
MSA is a law enacted in March 2015, which aims to prevent slavery and human trafficking and enacted in March 2015. Section 54 of MSA requires commercial organizations which carry on business in the United Kingdom and has a total annual global turnover of not less than GBP36 million to publish a statement of the steps the organization has taken during the financial year to ensure that slavery and human trafficking is not taking place in its own business and supply chains.
- TMNF’s initiatives for respect of human rights
TMNF views continuing to meet the expectations of society as its corporate social responsibility(CSR), TMNF strives to respect and promote the recognition of human rights for all people. TMNF has also formulated “Principle of Transactions” and issues it to such new business partners including suppliers and subcontractors and excluding insurance agents, whose annual transaction amount is equal to or greater than one million Japanese Yen and requests that these business partners promote initiatives for compliance with laws, regulations and social norms, promoting fair and honest transactions, etc.