This statement is made in accordance with section 54 of the Modern Slavery Act 2015. It is made on behalf of Formula One Topco Limited and each of its UK subsidiaries, being Formula One Management Limited, Formula One World Championship Limited, Formula One Hospitality and Event Services Limited, Formula One Marketing Limited, Formula One Marketing II Limited, Formula Motorsport Limited, Formula One Research, Engineering and Development Limited, Formula One Digital Media Limited, Delta 3 (UK) Limited, Alpha Prema UK Limited, SLEC Holdings Limited, Beta Holdings Limited, Formula One Asset Management Limited and Formula One Administration Limited (Formula 1 Companies or we) and has been approved by their respective boards of directors.
This statement confirms that during 2020/2021, we have continued following our last financial year (ending 31 December) to take steps to identify and combat the risk of modern slavery and human trafficking occurring in our business activities and supply chains and that no incidents have arisen.
We are committed to guarding against modern slavery risks globally throughout our operations and to assessing the potential impacts of our activities. This commitment is underpinned by our Human Rights Statement and the Formula 1 Code of Conduct (Code) and the Formula 1 Supplier Code of Manufacturing Standards (Supplier Code).
Since our 2019/2020 statement we have continued following our due diligence procedures (as detailed below) and have worked to increase the awareness of modern slavery and human trafficking risks across the business (including in such disrupted times) through training and communication. Over the course of the next year, we will continue to review and enhance our procedures as set out in this statement.
The Formula 1 Companies hold the exclusive commercial rights to the FIA Formula One World Championship (Championship) which is an annual, approximately 9 month long, motor racing competition in which teams compete for the Constructor’s Championship and drivers compete for the Driver’s Championship. It is a global series which in 2021 is currently scheduled to take place in 21 countries, over 5 continents. We employ approximately 550 members of staff, the majority of whom are based in the UK.
We assess the risk of modern slavery and human trafficking in our supply chain on an ongoing basis and are particularly mindful of the heightened risk in the areas of circuit labour (which is selected and contracted by a third party local promoter or operator), labour at our own premises, the production of F1 branded merchandise (which is commissioned and produced by third party licensees and sponsors) and the production uniforms, workwear and equipment used in our own workplaces.
In order to identify modern slavery and human trafficking risks in our supply chains we conduct risk-based due diligence on relevant third parties before we enter into new or renewed contractual arrangements.
Factors we take into account when considering the level of due diligence required include the nature of the services being provided, the industry and the geographic location of the counterparty and such services. Formula 1 Modern Slavery Act Transparency Statement
In respect of potential high-risk areas, we proactively engage with our relevant partners and suppliers to ensure that circuits are constructed ethically and in accordance with relevant labour laws and that our branded products are sourced responsibly. We issue supplementary questionnaires on modern slavery and human trafficking which probe issues such as our counterparties’ internal policies and procedures, due diligence, ethical audits and whistleblowing mechanisms, risk assessment, supply chain mapping and working conditions.
As part of our ongoing monitoring programme, we continue to conduct risk assessments of our race jurisdictions which include assessing modern slavery and human trafficking risks, and to engage with the local promoters to assess the measures they have in place to mitigate against such risks. In 2020, due to travel restrictions imposed as a result of the Covid-19 pandemic, our due diligence was primarily document-based with limited ability to undertake reconnaissance trips. We anticipate this will also be the case in 2021.
In 2021, two new circuits are being constructed and we will monitor the construction sites through our own due diligence procedures and the use of a business intelligence investigations specialist who will conduct on-site assessments and interviews and provide detailed reporting and evaluation of identified modern slavery and human trafficking risks.
In 2021, we are enhancing our due diligence procedures by introducing a compliance evaluation risk-rater summary which will be used to standardise the way in which our due diligence findings are identified and communicated to the relevant stakeholders in the business. This includes an assessment of any modern slavery and human trafficking risks and suggested mitigation measures.
We continue to maintain records of our procedures to reflect accurately and in detail our activities in relation to modern slavery due diligence, training and external monitoring intelligence. These records will be used in 2021 to help assess, refine and improve our strategy for mitigating modern slavery and human trafficking risks.
We universally commit to respect internationally recognised human rights in our agreements with third parties. In 2020, we continued to review and update our bespoke contractual provisions which prohibit the use of forced and child labour, human trafficking and unsafe working conditions in our circuit related contracts and impose specific obligations on relevant product licensees and sponsors relating to the manufacturing process.
The Formula 1 Code of Conduct supports our commitment to conduct business ethically, with integrity and to the highest standards, including by guarding against modern slavery. All our staff are required to adhere to our Code and report any violation they become aware of. We encourage them to speak up about any concerns, including issues relating to human rights or modern slavery. It is possible to do so anonymously through our 24-hour hotline “Speak up”. Formula 1 Modern Slavery Act Transparency Statement
In 2021, subject to Covid-19 travel restrictions, we intend to resume our regular modern slavery and health and safety risk briefing programme for travelling staff visiting existing and new high-risk sites. Following each visit the staff are asked to report their observations and concerns.
The Supplier Code summarises the steps Formula 1 takes to honour its commitment to ensure that its manufacturing supply chains are free from human rights and modern slavery abuses. It also sets out the standards we expect the suppliers and licensees of F1 branded products (and the subcontractors in the supply chain) to observe and the measures we expect them to implement to ensure compliance with internationally recognised human rights laws, statutes, conventions and regulations.
In 2021, we will continue engaging with our licensees and suppliers to help them develop a greater awareness of Formula 1’s ethical values and how they should be applied.
We train all relevant staff to identify modern slavery and human trafficking risks to which they may be exposed.
We continue to conduct virtual training sessions on the Code which include a component on human rights, modern slavery and human trafficking issues. All staff have completed (and new joiners are required to complete) our interactive e-learning module which includes scenario-based education on modern slavery issues.
Members of our compliance and procurement teams continue to play an important role in raising risk awareness within the business and ensuring that ethical considerations are given due weight in our business partnerships and procurement activities.
Over the course of 2021/2022, we will continue to provide information, training and guidance to staff on modern slavery and human trafficking across our business operations.
Signed by Sacha Woodward Hill, Director
For and on behalf of Formula One Topco Limited, Formula One Management Limited, Formula One World Championship Limited, Formula One Hospitality and Event Services Limited, Formula One Marketing Limited, Formula One Marketing II Limited, Formula Motorsport Limited, Formula One Research, Engineering and Development Limited, Formula One Digital Media Limited, Delta 3 (UK) Limited, Alpha Prema UK Limited, SLEC Holdings Limited, Beta Holdings Limited, Formula One Asset Management Limited and Formula One Administration Limited.