Australian Enterprise Awards 2022

18 APAC / Australian Enterprise Awards 2022 Fast growing and cutting edge, global ESG data provider and consultancy, FairSupply has been acknowledged as the ESGData Provider of the Year. FairSupply is the only company on the market to provide ESG risk assessments of supply chains down to Tier 10. FairSupply offers business and institutional clients alike unparalleled visibility over ESG risk along their entire supply chain throughworld-leading proprietary technology. Founded by Kimberly Randle, an expert human rights lawyer specialising in modern slavery, FairSupply was launched to address the global scourge of modern slavery but has since diversified to offer carbon emission, land, water and soon, biodiversity risk assessments. From the outset, FairSupply’s rationale was simple: Modern slavery and other ESG risks are often hidden deep in supply chains. Through unique proprietary technology, FairSupply worked to provide investors and companies with the visibility they needed to identify and address those risks. “That visibility enables our clients to develop mitigation and remediation strategies that are targeted at the points in the supply chain that will achieve the greatest impact for victims of modern slavery. To date, in excess of $500 billion of investment and spend data has been assessed for modern slavery risk using FairSupply’s platform,” explains Kimberly Randle, CEO and founder. Having established an international reputation as an expert speaker in the field of modern slavery, Kimberly has been called upon to provide evidence for both the NSW and Commonwealth Parliamentary Inquiries into Human Trafficking. With nearly two decades worth of experience in law and human rights, Kimberly has worked for some of the most well respected and renowned firms in Australia and the United States, holding the position of Senior Director of Corporate and Legal for International Justice Mission Australia. At FairSupply, Kimberly and her team work with a diverse range of clients from investment funds to retailers, private, institutional and public entities. Kimberly discussed what explains FairSupply’s success and the value it brings to clients, stating, “Our proprietary software is able to trace supply chain data to Tier-10 – further than any other competitor. We can then identify the risk areas in the supply chain for modern slavery, carbon emissions, land and water usage, and, soon, biodiversity. Then, we build upon this data to help our clients develop informed investment strategies, achieve regulatory compliance and create positive change.” Australia’s Modern Slavery Act 2018 (Cth) has been a significant catalyst for Australian businesses to begin thinking seriously about their supply chains and their company’s impact on human rights. Kimberly explained, “By going through the process of writing a modern slavery statement, many companies realised that they have limited visibility over their supply chain, particular beyond their direct, Tier-1 suppliers. Figuring out who their lower tier suppliers are, which countries they’re in and how they treat their workers is incredibly complex. This is the problem FairSupply has solved. We’ve simplified supply chain assessments by translating enormous amounts of data into a user-friendly format.” Moreover, the Covid-19 pandemic has brought home to businesses the importance and vulnerability of global supply chains and, therefore, the need for visibility over supply chains. “More than ever, organisations see the value in assessing their supply chains, identifying weak spots and taking proactive measures to mitigate these risks,” Kimberly remarked. “Unfortunately, during the pandemic, we have also seen increased exploitation of vulnerable workers due to the economic pressures and increased demand for certain goods. However, working to improve human rights in supply chains is what drives our work at FairSupply.” With the demand for ESG products and services rocketing FairSupply appears poised to increase that influence. Kimberly reflected on this with her final statement, “We’ve seen a huge growth in demand for ESG related services, which will only increase as governments implement further regulations and customers and investors push for more ethical and sustainable business practices. Therefore, we have continued to invest in research and development, strengthening our already industry-leading offering.” In the coming months, FairSupply will be launching biodiversity assessments that will enable clients to determine the impact of their supply chain on species extinctions. This will offering will sit alongside the company’s existing offering of modern slavery, carbon emissions, and land and water usage. Company: FairSupply Name: Kimberly Randle, CEO Email: [email protected] Web Address: ESG Data Provider of the Year 2022 FairSupply