Modern Slavery Act - Princess Yachts - British Luxury Yacht Manufacturer

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Princess Yachts Limited

Newport Street, Plymouth, PL1 3QG

Tel: +44 (0)1752 203888

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Modern Slavery Act Statement

Modern slavery is a crime consisting of slavery, servitude, and compulsory and forced labour and human trafficking. All forms of modern slavery are a violation of fundamental human rights and have a devastating and depriving effect on a person’s individual rights in return for exploiting the individual for personal or commercial gain.

Princess Yachts is committed to improving its practices to combat slavery and human trafficking. Princess Yachts has a zero-tolerance approach to any form of modern slavery and continuously works to ensure that its systems and controls are effective in safeguarding all members of its organisation from any form of Modern Slavery.

We encourage and expect all of our staff, suppliers and distributors to report concerns and management are expected to act upon them

Our Business

Princess Yachts is a luxury yacht manufacturer based in Plymouth, England. We have over 3,000 employees and sell to 43 authorised distributors worldwide.

We are committed to continuously improving our practices and policies as we recognise their impact upon our employees, customers and suppliers as well as the wider community.

Our Distributor Network

Having developed fantastic relationships with successful distributors globally, we are keen to understand their operations and approach to issues including Modern Slavery and Human Trafficking and to encourage a uniformed and consistent approach across all areas of the business. We recognize the challenges of working across many legal jurisdictions and practices and are dedicated to improving our transparency and communications channels.

Our Supply Chains

We have developed our broad network of suppliers within the UK and Europe over a span of over 50 years. We maintain a preferred supplier list and conduct due diligence on all suppliers before approving them as a preferred supplier. As part of our agreements with all of our suppliers, they are required to confirm that all parts of their operations meet the standards of our policy or adhere to their own policy which is of a similar standard.

We recognise the importance of us taking a more proactive role in making our supply chain more transparent, including attending facilities and having more regular contact with our key contacts within the suppliers.

In 2020 we have made progress to produce a Supplier Code of Conduct to ensure all those within our supply chain and contractors comply with our values and ethics. This will be rolled out during 2021

Our Policies on Slavery and Human Trafficking

We are committed to ensuring that there is no modern slavery or human trafficking in our supply chains or in any part of our business. Our Anti-slavery Policy reflects our commitment to acting ethically and with integrity in all our business relationships and to implementing and enforcing effective systems and controls to ensure slavery and human trafficking is not taking place anywhere in our supply chains.

Our Anti-Slavery, Modern Slavery and Human Trafficking Policy sets out our zero-tolerance stance on modern slavery and human trafficking and provides guidance to our employees on identifying and reporting instances.

Our Whistleblowing Policy provides information and encouragement to our employees so that concerns can be raised about how colleagues are being treated, or practices within our business or supply chain, without fear of reprisals.

Due Diligence Processes for Slavery and Human Trafficking

As part of our initiative to identify and mitigate risk we have in place systems to:

  • Identify and assess potential risk areas in our supply chains.
  • Mitigate the risk of slavery and human trafficking occurring in our supply chains.
  • Monitor potential risk areas in our supply chains.
  • Protect whistle blowers.

Training

To ensure a high level of understanding of the risks of modern slavery and human trafficking in our supply chains and our business, we provide training to our staff. Every person who is newly employed by the business has a full induction on the first day of employment which includes details of our stance on modern-slavery and how to report concerns surrounding modern slavery using the Whistleblowing procedure.

Our effectiveness in combating Slavery and Human Trafficking

We annually review the effectiveness of our policies and steps that we have implemented to ensure that no element of slavery and/or human trafficking is taking place within our business or its supply chain. We will consider:

  • the number of reports received from employees, the public, or law enforcement agencies which have identified modern slavery practices; and
  • the awareness and understanding of modern slavery across the business, its supply chain and the distributor network.

 

This statement is made pursuant to section 54(1) of the Modern Slavery Act 2015 and constitutes our Group's slavery and human trafficking statement for the financial year ending 31 December 2020. It was approved by the board on 08 April 2021.

Paul Turner, HR Director

Reviewed: April 2021

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