New laws require Australian business to report on the risk of modern slavery in their operations and supply chain. The Australian Council of Superannuation Investors (ACSI) guide offers practical support to businesses on how to understand modern slavery and respond.

Corporate responsibility reporting has come a long way in the last decade. Australian companies, however, still fall short of their global peers on human rights reporting.

Australian modern slavery legislation necessitates a rapid response by companies yet to prioritise human rights risks. Like many human rights violations, the practices which place people in slavery-like conditions often remain hidden from view.

ACSI commissioned KPMG Banarra’s human rights specialists to create a guide for business and investors to better understand modern slavery – the context, the key modern slavery risk factors, sectors at high risk of slavery like practices, and the practical questions to ask to prepare a response ahead of public reporting.

The report focuses on five ASX200 sectors considered to be high-risk for modern slavery:

  • financial services
  • mining 
  • construction and property 
  • food, beverage and agriculture, and 
  • health care.

ACSI’s particular interest and focus is in supporting listed ASX200 companies to mature in their approach to non-financial disclosure, improve what is considered to be leading practice across corporate Australia, and facilitate conversations between investors, boards and executives as they prepare to publicly report on modern slavery risk.

Investors, boards and executives will find the guidance section of the report particularly useful in preparing for the new regulatory requirements. It includes a series of practical checklists, designed using leading global practice, allowing companies and investors to make preliminary assessments of readiness to respond to modern slavery risk.

Modern Slavery Risks, Rights & Responsibilities: A Guide for Companies and Investors - ACSI & KPMG, 2019 DOWNLOAD

post

page

attachment

revision

nav_menu_item

custom_css

customize_changeset

oembed_cache

user_request

wp_block

acf-field-group

acf-field

ai1ec_event

Statement of Principles & Recommended Practices for Confronting Human Trafficking & Modern Slavery
GuidanceGood Practices

The exploitation of persons– for labor or sexual purposes– is the third-largest illegal “business” after drug and arms trafficking. While slavery was officially abolished in the United States 150 years ago, in 2012 the International Labor Or...Read More

How to do business with respect for children’s right to be free from child labour: ILO-IOE child labour guidance tool for business
Guidance

The guidelines aim to improve global supply chain governance, due diligence and remediation processes to advance the progressive elimination of child labour. The Child Labour Guidance Tool was created jointly by the International Labour Organization...Read More

Freedom of movement for persons identified as victims of human trafficking: An analysis of law, policy and practice in the ASEAN Region
GuidancePublications

Author: Marika McAdam Sheltering victims of trafficking require a complex balance to be achieved between the rights of victims (including to freedom of movement and liberty), and the sometimes competing interests of other stakeholders. This Study...Read More

Actions speak louder: Assessing bank responses to human rights violations
Guidance

The UN’s new “Roadmap for the Next Decade” of Busi- ness and Human Rights, published in November 2021, begins by setting out the need to raise the ambition and increase the pace of implementing respect for human rights. The road...Read More