We won't magically eliminate all forced labour in our supply chain. The idea is to give companies a bit of time to truly understand what's happening in their supply chain and resolve it.
You say the bill has no real consequences. On the contrary, the fact that companies must report publicly on what they're doing and not doing becomes a tool for public review. This comes at a time when, as you know, society is a lot more demanding of companies. They're not just there to make profits; they must also have responsibilities.
You're right in saying that companies aren't being required to show results. They're nonetheless being asked to do an exercise. Since the reports will be public, they can be compared. That's what's done in England and Australia. Facing a penalty is something.