The investment industry must move beyond existing methods of engagement and focus on promoting more effective action to tackle the global issue of modern slavery, according to CCLA Investment Management's inaugural Find It, Fix It, Prevent It report, which warned that modern slavery is "likely to exist in the supply chain of every business".
It is estimated there are 40 million people in some form of modern-day slavery globally, and the Global Slavery Index has found that $18bn of goods imported to the UK every year are "very likely" to have slave labour incorporated into their production. The UK Modern Slavery Act 2015 categorises four types of offence - slavery, servitude, forced compulsory labour and human trafficking - with debt bondage the most common method of labour exploitation, accounting for about half of all victims of modern slavery. Human rights above all else: Why Deliveroo IPO leaves bad taste among ESG-con...
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