Governance Insights 2025 A Preview of 2025: 10 Legal Updates GCs, Boards and Investors Need to Know
THE EMERGENCE OF COMMON PRACTICES?
It is still too early to determine if and whether commonly accepted practices and reporting methodologies will develop across industries. A review of the 2024 Supply Chains Act reporting of various global mining companies suggests that common anti-slavery practices are developing in that sector. These practices include
— focused due diligence and self-certification of prospective suppliers; — integrity codes of conduct for both employees and suppliers; and — anonymous incident reporting.
Given that many mining companies have been involved in anti-slavery efforts for years, these practices may become commonly accepted in other industrial sectors. However, such measures may be criticized as simplistic; more sophisticated practices (such as third-party audits and express policies on remediation measures) have not been consistently adopted. As Canada’s anti-slavery regime matures, we will be watching what common practices emerge.
THE COURT OF PUBLIC OPINION
Although issuers may doubt the willingness and capacity of the federal government to enforce strict compliance with the reporting obligations under the Supply Chains Act , the more serious risk currently facing issuers with few or no anti-slavery measures is public scrutiny – the key deterrent inherent in Canada’s anti-slavery regime is the public nature of the required reporting.
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Davies | dwpv.com
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