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Modern Slavery Statement

You’ll find a signed copy of our Modern Slavery Statement here.

Opening statement from senior management

Yü Group PLC is committed to preventing acts of modern slavery and human trafficking from occurring within our business and supply chain and we expect the same high standards of our suppliers. We are establishing working practices that enable us to monitor and reduce modern slavery risk within our business and supply chains. This is our first published Modern Slavery Statement as required by the UK Modern Slavery Act. In this document, we describe the progress made in 2017 and the improvements we aim to progress during 2018. This statement is made in compliance with Section 54 of the Modern Slavery Act 2015 and constitutes the Group’s slavery and human trafficking statement for the financial year ending December 2017.

Structure of the organisation

Yü Group PLC is a UK firm in the UK business energy sector. We primarily operate as Yü Energy, which is the trading name of Kensington Power Limited, a wholly owned subsidiary of Yü Group Plc. We employ 150 people and have business operations in the UK only. The principal activity of the company is the supply of gas and electricity to businesses. Yü Group PLC has an annual turnover of £47m. To find out more about the nature of our business, please follow the link to https://yugroupplc.com In order to provide business gas and electricity, we work with a range of suppliers. Our supply chain includes a wide variety of suppliers for the procurement of goods and services to support the business such as energy trading, metering services, financial, accounting and IT services. Within the energy industry, we are obligated to use specific reputable industry-wide suppliers in a number of instances. We consider our supply chain to have limited risk in relation to the potential for exposure of modern slavery and human trafficking although we will continue to monitor this carefully.

Policies

As part of our commitment to combating modern slavery, we are in the process of implementing the following:

– Anti-slavery policy (the “Policy”); and
– Modern slavery risk assessment. We will also make sure that our suppliers are aware of our policies to ensure that they adhere to the same high standards. These policies are being developed by our Senior Management Team. 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 will reflect 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. We expect the same high standards from all our contractors, suppliers and other business partners and our supplier contracts will reflect this.

Due diligence

As part of our efforts to monitor and reduce the risk of slavery and human trafficking occurring within our supply chains, we will be adopting the following due diligence procedures:
• modern slavery supplier risk assessment form;
• updating standard contract terms to include a modern slavery clause.

Our procedures are designed to:
• establish and assess areas of potential risk in our business and supply chains;
• monitor potential risk areas in our business and supply chains;
• reduce the risk of slavery and human trafficking occurring in our business and supply chains; and
• provide adequate protection for whistle-blowers.

Risk and compliance

We do not consider that we operate in high-risk sectors or locations because the majority of our suppliers are based in countries classed as free on the Freedom House list. A supplier risk assessment has been completed to identify geographic and industry-specific risks that had the potential to impact our supply chains. Our compliance programme is initially focused on direct suppliers linked to these higher risk geographies and industries. Where we identify a potential risk through our due diligence procedures, we will address the risk with the supplier accordingly.

Effectiveness and KPIs

Yü Group PLC will use key performance indicators (KPIs) to measure how successful we have been in ensuring that slavery and human trafficking is not taking place in any part of our business or supply chains. These KPIs will include the delivery of mandatory training for staff in engaged in recruitment and procurement activities; the completion of supply chain mapping and supplier risk assessments; the updating of supplier contracts to reflect obligations for Modern Slavery Act compliance.

Training

We will invest in educating our relevant colleagues who are involved in the procurement process to recognise the risks of modern slavery and human trafficking in our business and supply chains. Through our training programmes, employees will be encouraged to identify and report any potential breaches of the organisations anti-slavery and human trafficking policy. Employees will be taught the benefits of stringent measures to tackle slavery and human trafficking, as well as the consequences of failing to eradicate slavery and human trafficking from our business and supply chains. Our senior leadership and executive team have also been briefed.

Further actions and sign-off

We do not consider that we operate in high risk sectors or locations because the majority of our suppliers are based in countries classed as free on the Freedom House list. We will ensure that the necessary steps are taken to prevent slavery or human trafficking from occurring in our business or supply chains. This will involve the ongoing implementation of the Policy and due diligence procedures, with staff training to ensure awareness of the Policy and due diligence procedures. This statement is made in accordance with section 54(1) of the Modern Slavery Act 2015 and constitutes Yü Group PLC’s slavery and human trafficking statement for the financial year commencing 1st January 2017 and ending 31st December 2017.