Modern Slavery Statement

Innovo Holding Limited Modern Slavery Statement

This statement has been published in accordance with the Modern Slavery Act 2015 of UK Public General Acts for the financial year ending 31 December 2024.

The definitions

We consider the definitions of modern slavery, as servitude, forced or compulsory labour and human trafficking, in line with the offences outlined in the Act.

Our business and supply chains

Innovo is a construction and real estate business headquartered in the UK. We offer services in construction, real estate development, project finance & management, supply chain management, venture capital & private equity. The lions’ share of Innovo’s operations is in the Middle East. Our supply chain partners comprise consultants, contractors, subcontractors and suppliers.

Innovo’s corporate culture is built on integrity, compassion and transparency. We are committed to engaging on human rights and eradicating modern slavery and human trafficking in our business and supply chain. We continuously strive to conduct our operations ethically and honestly and uphold the dignity and rights of our people and partners.

Innovo mitigates the risk of modern slavery practices through policy commitments and working solely with reputable supply chain partners.

Risk levels

The construction sector remains susceptible to instances of modern slavery practices. The reasons are a fear of reporting, low levels of awareness and the implicit nature of the crime. Labour risks lie predominantly in the supply chain and the delivery of construction services.

We do not tolerate instances of modern slavery anywhere in our operations and supply chain and have taken robust measures to ensure compliance, as outlined below.

Policies and procedures

We analyse modern slavery issues in the context of other exploitative practices including health & safety negligence, substandard accommodation, excessive working hours, withholding of wages or personal possessions, and physical, visual or verbal intimidation and abuse or non-compliance with labour laws.

Our policies and practices express a clear prohibition of all modern slavery offences that applies to all enterprises in our group and in our supply chain, including the recruitment and selection of individuals.

  • Our Innovo Code of Business Conduct necessitates the measurement of ethical risk and the reporting of unethical conduct and underlines the importance of dealing with supply chain partners fairly and transparently. It reasserts our commitment to operating ethically and with integrity and enforcing effective systems and controls to prevent modern slavery in our operations.
  • Our Whistleblowing Policy encourages disclosures of modern slavery suspicions and human rights abuses while ensuring the protection and anonymity of whistleblowers.
  • Our Global HR Policy is committed to creating an environment where intimidation, bullying and harassment will not be tolerated. It highlights the dignity of the individual and affirms our commitment to the fair treatment of individuals.
  • Our Workers Employment & Facilities Policy prohibits forced labour in our supply chain and recruitment processes. Individuals must give informed consent prior to commencing employment. The policy prohibits employment of anyone under 18 years old. Our recruitment process requires that individuals be informed in their native language of the nature of their employment (wages, rights & responsibilities, employment terms and conditions, health & safety risk) prior to its commencement.
  • Our supply chain processes involve assessing and ongoing monitoring of subcontractor and supplier compliance in the areas of worker welfare, operational ethics, health & safety and environmental protection.

Supporting our policies, we have implemented minimum standard practices to mitigate the potential risk in all areas concerning modern slavery considerations:

  • Transparent people practice on recruitment, contracts, wages and working hours.
  • Compliance with employment laws and regulations in each operational jurisdiction.
  • Individuals enter employment voluntarily, without deception or threat of penalty.
  • Regular audits of worksite and sub-contractors to ensure compliance practices.
  • Provision of support and assistance to any employee who has been a victim of any modern slavery offence.

Approval

This statement was approved by the Board of Directors of Innovo Holding Limited.