Modern slavery in supply chains is a complex and pressing issue.
The 2023 Global Slavery Index (GSI) estimates over 49.6 million people worldwide are trapped in modern slavery. Sadly, the COVID-19 pandemic has worsened the situation. Due to high debt, limited social protections and the rise of mass unemployment, workers and their families are more vulnerable to labour exploitation and human rights abuses.
We are committed to eradicating modern slavery in our supply chain in all its forms. While every industry is impacted, the apparel and footwear sector is among the most affected. We are conscious of the challenges posed by the risks of modern slavery practices and see it as an opportunity to strengthen our commitment to eliminating this issue. According to the 2022 Baptist World Aid Ethical Fashion Report, only 10% of fashion brands pay their factory workers a living wage.
This year we produced our first Modern Slavery Statement, where we have detailed the risks of modern slavery in our supply chain, and the steps we have taken to mitigate them. We've focused on improving visibility throughout our supply chains and ensuring all our workers receive living wages. We are paying workers in our end-stage manufacturing facilities a living wage, and conducting Living Wage audits bimonthly with international quality assurance specialists Intertek in our main factories in China.
We are also working hard to trace our supply chain from Tiers 1 to 5. We currently have full visibility over Tiers 1 and 2, and are investigating Tiers 3-4 where the supply chain becomes murkier and more complex. Our objectives are to trace our entire supply chain to the farm level with full transparency, and to have all workers in this chain earn a living wage.
We're committed to promoting responsible and ethical business practices with all stakeholders, employees, customers and suppliers, and we're confident that we can make an impact in the fight against modern slavery and create a better future.