Diginex, a digital financial services and blockchain company, has launched a new supply chain platform in partnership with The Coca-Cola Company and Reckitt.
The new platform, DiginexLUMEN, is a due diligence tool that aims to provide brands with trust, transparency, and accountability in global supply chains.
DiginexLUMEN was developed with the financial and technical support of The Coca Cola Company and Reckitt, with the goal of ensuring that all companies have access to affordable and scalable due diligence tools.
In a press statement, Diginex said the new platform will give businesses a new level of insight into their supply chain risk.
DiginexLUMEN will offer a governance and screening process, multilingual worker voice surveys, algorithm-based risk scoring, and ESG reporting, including risk evaluation related to labour exploitation and forced labour.
Mark Blick, CEO of Diginex, said: “ESG products and services have primarily focused on the ‘environmental’ and ‘governance’ aspects to date – the ‘social’ aspect has been harder to address. DiginexLUMEN is here to change that by setting a new standard for supply chain due diligence.”
Diginex aims to “help businesses of all sizes improve their ESG credentials, meet investor demand, and remain compliant with incoming regulation.”
Blick believes that diginexLUMEN has the potential to disrupt the once-a-year audit model and move towards a more continuous process of data collection and multi-stakeholder engagement in monitoring working conditions.
Paul Lalli, global head of human rights at The Coca Cola Company, said: “The Coca-Cola Company believes respect for human rights is critical to good business, and we are tremendously proud of our industry-leading supply chain program.”
David Pettet, global human rights and sustainable supply chain director at Reckitt, said: “In line with our compass of putting people first and doing the right thing always, our partnership with DiginexLUMEN provided us with an innovative tool that increases our understanding of recruitment practices within our supply chain.
“This transparency empowers us to take targeted action to promote ethical recruitment as we strive to create a fairer, more inclusive society.”
The innovation comes as human rights due diligence and forced labour legislation continues to tighten around the world.
On February 23, the European Commission (EC) issued a landmark proposal for a Directive on Corporate Sustainability Due Diligence to tackle human rights and environmental impacts across global supply chains.
The directive would impose a due diligence duty on large EU and third-country companies, and smaller companies in certain “high-risk” sectors, to identify and take steps to remedy, prevent, and mitigate adverse impacts in the companies’ own operations, and that of their subsidiaries and value chains.