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AllianceBernstein: 2022 Global Slavery and Human Trafficking Statement and Report

3BL Media

DESCRIPTION: AllianceBernstein published its third Global Slavery and Human Trafficking Statement and Report in September 2022. The 2022 Statement details our progress, including last year’s centralized ESG engagement campaign through which AB analysts engaged with 44 unique issuers on the topic of modern slavery.

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How the Financial Industry Can Help Stop Modern Slavery

3BL Media

DESCRIPTION: Modern slavery is a lucrative business that can’t exist without the financial system. Yet, in every sector, modern slavery has one thing in common—it’s driven by the massive profits reaped from taking advantage of vulnerable people. Some financial firms think they aren’t exposed to modern slavery risks.

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New Tools Needed in Tackling Modern Slavery  

Chris Hall

Despite investor pressure, the UK is losing its leadership position, as Australia and the US progress on laws to eradicate modern slavery from supply chains. It is an uncomfortable open secret that slavery persists today in plain sight. He says Votes Against Slavery, with the backing of 122 investors managing £9.6

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Force Finance Sector to Report on Modern Slavery – CCLA 

Chris Hall

UK-based asset manager criticises government stagnancy and finance sector inaction, but reports progress on modern slavery in other sectors. The initiative seeks to combat modern slavery through engagement with investee companies, participation in shaping public policy and in developing better modern slavery data.

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ESG Explainer: Modern Slavery in the Supply Chain

Chris Hall

Anti-modern slavery legislation is in its infancy and investors must rely on myriad sources of information to identify and mitigate the risk of slavery and forced labour in investee companies and their wider supply chains. What is modern slavery? How are individual governments acting against modern slavery?

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Think Laterally to Halt Care Sector Exploitation

Chris Hall

Dame Sara Thornton, Consultant on Modern Slavery, CCLA and former Independent Anti-Slavery Commissioner, says investors can help to protect workers. The charity Unseen operates a help line for modern slavery and it has reported an increase in potential victims of modern slavery in social care from 63 in 2021 to 712 in 2022.

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FRC: UK Firms Failing to Disclose Modern Slavery Risks

Chris Hall

Investors rarely pressing investee companies on modern slavery, according to asset manager. The report outlines findings from research commissioned by the FRC, in collaboration with the Independent Anti-Slavery Commissioner (IASC), and carried out by Lancaster University. Further research needed.