According to Fuzz Kitto (Co-Director, Stop the Traffik), the only way we can stop modern slavery is together. It is not possible for companies to solve modern slavery on their own. Knowledge and information sharing, collaborating through partnerships and multi-stakeholder initiatives, such as the UN Global Compact, are effective ways that companies can effect change. By combining resources and sharing expertise, collaborations can help reduce instances of modern slavery within an industry, product or sector.
It makes sense in practice as well. If a company identifies practices captured under the modern slavery umbrella in a specific factory, farm or other facility, one company acting alone may not have enough leverage over a supplier to change their practices that allow modern slavery to occur. If multiple organisations who purchase from the same supplier can work together and build leverage, there is a far greater likelihood that positive change can occur for the victims.