Modern slavery is a criminal offence and is a violation of human rights. The Act defines modern slavery to include slavery, servitude, forced or compulsory labour and human trafficking.
Beacon Rail Leasing is committed to ensuring that there is no possibility of modern slavery occurring within our business or within our supply chain. We deliver that commitment by implementing our policies which cover modern slavery, as set out below.
We take a zero tolerance approach to modern slavery. This statement sets out the means by which Beacon Rail Leasing implement and enforces this approach to minimise the risk of modern slavery taking place within our organisation or supply chain.
Beacon Rail Leasing is a rolling stock leasing company primarily serving the Pan-European marketplace.
The company’s strategic goal is to create value for its customers, employees, and shareholders by being knowledgeable, flexible, well managed and efficiently operated.
The Mission of Beacon Rail Leasing is to be the leading provider of high utility rolling stock to the Pan-European operator base. Management’s goal is to provide the company’s equity investors with superior returns by being the best managed and most efficiently operated rail operating lease company in the Pan-European Market.
Beacon Rail Leasing has an industry leading management team with extensive rail asset management expertise and capital markets experience, enabling it to meet the equipment needs of its customer base, and employs over 40 professional, engineering and support staff in Luxembourg, Boston and London.
The supply chain of Beacon Rail Leasing includes rolling stock manufacturers, asset maintenance providers and customers who take our rolling stock on lease.
Beacon Rail Finance (Europe) Limited has turnover in excess of £ 36 million.
In order to assess and address the risk of modern slavery and human trafficking, we take the following approach:
- We ensure that our suppliers are aware that we are unwilling to work with them unless they comply with the Act and have and adhere to policies which are sufficient to ensure that their supply chains are free from modern slavery.
- We carry out audits and inspections on various parties in our supply chain to ensure that the high standards we adhere to are reflected in the operations of our business partners.
- We deliver training to our board and employees to ensure that our people are aware of the health, safety, quality and environmental risks in our business, and how best to manage the risks associated with each of these areas.
- We tailor the nature and extent of the due diligence we carry out on the various parts of our business and supply chain depending on the geographical location of those operations, and how high the risk of modern slavery, human trafficking and other breaches of human rights are in those locations.
It is the policy of Beacon Rail Leasing to remain fully compliant with all laws which apply to it, including the Act and all other laws, regulations and directives in relation to modern slavery and human trafficking. Beacon Rail Leasing has stringent policies in place to ensure the proper oversight of the construction, manufacturing and maintenance of our assets.
Monitoring our performance
The management of Beacon Rail Leasing carry out regular inspections, reviews and audits to ensure that these policies are complied with and are adequate to ensure that we are complying with the high standards which we set for ourselves, as well as those imposed by law. Beacon Rail Leasing will monitor the effectiveness of the measures identified above to identify any areas in which we need improvement, and to implement such improvements as soon as possible.
This statement is made under section 54 of the modern Slavery Act 2015.
Capitalised terms used in this statement have the following meanings:
“Act” means the modern Slavery Act 2015.
“Beacon Rail Leasing” means Beacon Rail Lux Holdings S.à r.l., a Luxembourg private limited liability company, and its direct and indirect subsidiaries.
This statement was formally approved by the Board of Beacon Rail Finance (Europe) Limited on 21 June 2019.
Chief Executive Officer