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.

FacebookTwitterLinkedInGoogle+Email
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

wpephpcompat_jobs

ai1ec_event

Corporate Accountability And Liability in the Malaysian Palm Oil Industry
Guidance

This document sets out the current underlying framework of law and governance that impose greater accountability and liability on businesses participating in the palm oil industry, those indirectly benefiting and profiting and those providing suppor...Read More

Developing Effective Grievance Mechanisms in the Banking Sector
Guidance

This paper reviews banks’ responsibilities and provides suggestions and recommendations for how banks can develop and implement effective operational-level grievance mechanisms that will be legitimate, trusted and meet their responsibilities under ...Read More

Handbook on Initial Victim Identification and Assistance for Trafficked Persons
Guidance

The Task Force, which was established in 2016, is a multidisciplinary and collaborative consortium of 27 organizations with the mission to collectively advance anti-trafficking efforts in the Hong Kong SAR. The Handbook’s release follows the endors...Read More

Modern Slavery Typologies for Financial Services Providers
Guidance

Financial institutions analyse typologies to pursue investigations, compare scenarios and follow patterns that lead to identifying suspicious activities linked to trafficking and slavery. The typology repository offers guidance for banks on a number ...Read More