About this Statement
The following statement is made on behalf of Covalt Management Services Limited (“Covalt”) and its subsidiaries in accordance with section 54 (1) of the Modern Slavery Act 2015 (“MSA”).
This is our first (v1 - 21st June 2023) annual modern slavery and human trafficking statement. Covalt is vehement in its opposition to all forms of human trafficking and slavery and will take the necessary steps to ensure ethical practices operate throughout its entire business and supply chain. These same high standards are expected from all of our contractors, suppliers and other business partners.
Scope
For the purposes of this policy, Covalt is defined as a group of companies which are majority owned by Covalt Management Services Ltd inclusive, in addition to those Client operations explicitly deemed to be within Covalt’s purview of liability (to the extent set out by Management Agreements and tenant licences) and will be referred to as "Covalt".
About Covalt Management Services Limited
Covalt is a Commercial Property Management Company that delivers and operates the full spectrum of flexible workspace products - including coworking, serviced offices, meetings & events, managed offices and hybrid spaces. Services are delivered through Management and Service Agreements, within the core remit of property management and consultancy services.
The Covalt financial year ends on 31st December.
Organisational Structure and Supply Chains
Covalt has less than 25 employees who are home workers and based at client sites in England. Covalt is headquartered in London, UK.
Organisational Policies
Covalt’s processes for identifying and managing risk, including any risks around modern slavery and human trafficking, and are set by the Board, and delegated to Senior Management. Covalt operates within a set of internally developed policies and procedures approved by the Board and communicated to all employees as required. These policies include but are not limited to:
Covalt recognises that modern slavery is a serious issue and consequently Covalt’s suppliers are expected to comply with the MSA and, where necessary, to require compliance through their own supply chain.
As a newly incorporated company, we are working towards launching a range of procurement policies such as a General Procurement Policy, a Responsible Sourcing Policy and a CSR Policy which will specifically detail our commitment to responsible sourcing and expectations of our suppliers in this regard. These policies will outline how we expect suppliers to align to our expectations in the following four key areas: Environmental Management; Human Rights and Labour Management; Health, Safety and Wellbeing; and Business Ethics and Integrity.
Due Diligence and Risk Assessment
Direct Employees
All of Covalt’s direct employees are paid at least the London/Regional UK living wage. We have a robust and inclusive recruitment and onboarding procedure in addition to our people strategy.
Property Management
We procure the services of multiple external property management organisations. Each has published their own modern slavery statement and have relevant policies in place. Some ways in which the policies are put into practice are through modern slavery awareness training, sharing best practices with suppliers, devising action plans for high-risk areas and suppliers, hosting supplier events and site audits. Our Assurance and Financial Planning controls assist in the audit and validation of our property management supply chain.
Construction
For all new developments and asset enhancement initiatives over £1 million, we request that the investor working with us uses a principal contractor who registers with the Considerate Constructors Scheme (CCS). The CCS is a voluntary, not for profit scheme that encourages contractors to meet best practice standards in areas such as workforce, safety, community and environment. The CCS Code of Practice requires registered contractors to provide a workforce environment where everyone is respected, treated fairly and the staff meet high standards of welfare, health and safety. The Code of Practice is monitored through audits.
In the construction of new buildings and asset enhancement initiatives, we seek building certifications such as BREEAM. Rating tools such as BREEAM include a ‘Materials’ section which promotes lessening the environmental impact of materials and procuring materials in a responsible way.
Suppliers
For our suppliers, we endeavour to use reputable suppliers that demonstrate a commitment to ethical working practices across all areas of our supply chain from FM, Technology, Marketing, Finance and general business operations.
Training
All employees and new joiners receive a bespoke 3 months initial training program covering the necessary overviews of our policies and procedures. An annual training refresher program is in place to keep relevant knowledge and skills up to date.
"The Covalt Board and Senior Leadership Team are committed to ethical business practices and supporting policies and procedures to eradicate modern slavery and any modern slavery found in our supply chain".
Calum Russell
CEO, Covalt Management Services
Copyright © 2024 Covalt Management Services Ltd - All Rights Reserved.