Modern slavery act transparency statement
Fastmarkets Modern Slavery Act
This statement sets out the steps the Fastmarkets Group has taken to comply with the UK Modern Slavery Act 2015 (the “Act”). In this statement, Lithium Hangar Holdco Limited and its subsidiary companies are referred to as the “Group”. The attestation and review steps described below were taken while the Group was part of the Euromoney Institutional Investor PLC (now Delinian) group of companies. Updates will be made to the attestation and policy approval processes to align with the best practice governance processes and to the policies that Fastmarkets will adopt as a separate Group, and these will be described in the Group’s modern slavery and human trafficking statement for the financial year ending 30 September 2024.
Fastmarkets provides price data, news and analysis from more than 200 reporters and analysts globally for markets including agriculture, energy, and metals and mining. Its data is used by customers seeking to understand and predict dynamic, sometimes opaque markets, enabling trading and risk management. Fastmarkets is a global business with a 130-year history with more than 500 employees spread across the UK, US, China, Singapore, Brazil, Belgium and Finland.
Our supply chainsOur supply chains are varied. We considered each of our business operations and their supply chains and determined the following areas as our inherent or perceived supply chain risk:
- event construction and operation in non-EU / non-US countries
- contracted maintenance staff working in the company’s offices in all locations (e.g.
cleaning, catering, security, building services)
- outsourced operations located in high-risk countries including software developers, data and list researchers, and sales and customer service
Our policies on modern slavery and human traffickingWe are committed to ensuring that there is no modern slavery or human trafficking in our supply chains or in any part of our business. We are committed to acting ethically and with integrity in all our business relationships and to implementing and enforcing effective systems and controls to ensure modern slavery and human trafficking is not taking place anywhere in our supply chains.
Employee assuranceWe require appropriate right-to-work documentation for staff including temps, interns and business work and placement staff across our global organisation, including higher-risk countries.
Supplier assuranceWe have a supplier assurance framework to identify suppliers located where slavery or trafficking risk may be high; our expectations of how business is conducted are communicated to such suppliers, together with legal undertakings where appropriate.
Compliance approachIn order to monitor compliance:
- each divisional head attested in writing that they have reviewed their division’s supply chain and that they have taken the necessary steps to mitigate exposure to the risk of modern slavery
- each division completed a Modern Slavery questionnaire that supports their attestation. The questionnaire covers processes in all key risk areas
- the Executive Boards and the Management Boards reviewed and approve the Group’s antislavery policies and procedures with the annual statement signed off by the Board
Speaking upOur staff have access to the Group’s speak-up hotline, managed by an independent third-party, allowing employees to report confidentially any suspected illegal or unethical behaviour.
ReviewWe will continue to review and update our compliance approach as our businesses and inherent or perceived supplier risks change over time.
This statement is made pursuant to section 54(1) of the Modern Slavery Act 2015 and constitutes the Group’s modern slavery and human trafficking statement for the financial year ending 30 September 2023.
This statement was approved by the Executive Board of Fastmarkets in May 2023.
This statement covers Fastmarkets and its group companies, with reporting companies proceeding with their own board approvals according to the Modern Slavery Act 2015