Funds Management News

Investors take on modern slavery

Posted by Anton Murray Consulting on . Posted in Funds Management News

InvestorDaily

A number of investment groups have joined forces to produce a best-practice guide for reporting and eliminating modern slavery. The guide was developed by the Australian Council of Superannuation Investors (ACSI) and Responsible Investment Association Australasia (RIAA) and builds on guidance contained within the Australian government’s new Modern Slavery Act.  “Modern slavery is likely to exist in the operations or supply chains of most businesses,” said ACSI CEO Louise Davidson.

“Beyond the devastating human impact, poor management of human rights impacts upon the commercial success, stability and longevity of investments.” The guide sets out a number of recommendations to help businesses comply with the act, including the actions that need to be undertaken to remove the potential of modern slavery in supply chain entities. The guide recommends businesses maintain a mechanism for reporting modern slavery risks – such as an employee hotline – and ensuring that entities in their supply chain are not using practices that can lead to modern slavery, such as charging recruitment fees for workers or tying worker accommodation to their employment status.

The rest of this article can be found at investordaily.com.au.

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