business and human rights laws, including by proposing remedy-centric improvements to the EU CSDDD115 and • Introduction of forced labour import bans to stop tainted recommending the introduction of a ban on products made products entering markets, and creation of remediation funds with forced labour in the EU market.116 to provide remedy to harmed workers. [...] Canada Forced and Child This legislation introduces requirements for in-scope Labour in Supply businesses to report on their actions to prevent and Chains Act 2023 mitigate forced and child labour in their supply chains.127 The topics that should be covered in the reports include measures taken to remediate any forced and child labour abuses, as well as measures taken to remediate the loss of inco. [...] Mexico The Forced Labour The Labor Chapter of the United States-Mexico-Canada Regulation 2023 Agreement (USMCA) required the Parties to take measures to prohibit the importation of goods produced by forced labour.139 The Regulation prohibits import of goods produced with forced labour into Mexico, in which the Ministry of Labour and Social Welfare has the power to issue resolutions banning certain. [...] Factors to consider include: the seriousness of the issues raised, the complexity of the complaint, any need for urgent action, whether the complaint raises systemic issues and the impact on the person and broader community, the potential for the complaint to escalate, whether the complaint is about an officer/s, and needs to be handled by an independent, impartial person, and whether the complain. [...] Include the following details where possible: detail and verification of the grievance; outcome of investigation and monitoring of response; whether the company has assessed that it caused, contributed to or was directly linked to the incident; actions taken to support the workers that were harmed; remedy provided, and any ongoing work to provide remedy, including timeframes and deadlines; feedbac.
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Table of Contents
- An Investors Guide 1
- October 2024 1
- Contents 2
- About the institute and its sponsors and partners 01 2
- Executive summary 03 2
- Introduction 05 2
- Investor responsibility 06 2
- Responding to business risk 07 2
- Enabling remediation in investee companies 08 2
- Advocacy and the remedy ecosystem 20 2
- Collective remedy 21 2
- Conclusion and recommendations for investor action 23 2
- Annex 1 Global legal risk table 26 2
- Endnotes 29 2
- About the institute and its sponsors and partners 3
- About the Institute 3
- Contact 3
- About First Sentier Investors 3
- About MUFG 3
- About the Trust Bank 4
- About Walk Free 4
- Acknowledgements 4
- Modern slavery impacts every country and supply chain in the world with 49.6 million people estimated to be living in modern slavery globally and 27.6 million in forced labour. 5
- Executive summary 5
- Note 7
- Meaning of remedy 7
- Introduction 7
- Investor responsibility 8
- Investor connection to human rights impacts 8
- Investors and businesses that do not manage modern slavery risk effectively throughout their business activities can expose themselves to legal reputational and financial risks. 9
- Company case study 9
- FGV ongoing response to forced labour in Malaysian palm oil sector 9
- Responding to business risk 9
- Enabling remediation in investee companies 10
- Leverage escalation and divestment 10
- Investor case study 11
- Using collaboration to build leverage 11
- Grievance mechanisms 12
- Enabling remediation in investee companies 12
- Investor case study 12
- Investor and other financial sector institution grievance mechanisms 12
- Enabling remedy before cases are found 13
- Investor and company case study 13
- Examples of enabling remedy at the preparation stage 13
- Enabling remedy when cases are found 14
- Note 14
- Company case study 15
- Company investigations into forced labour and child labour allegations in their supply chains 15
- Note 16
- Investor case study 16
- FSI engagement focusing on modern slavery risk and remediation of recruitment fees 16
- Investor case study 16
- ANZ remedy for financing Cambodian sugar plantation 16
- Investor case study 16
- The Dutch Pension Funds Agreement promoting access to remedy 16
- Company case study 17
- Instances of remedy awarded or agreed in court proceedings for modern slavery 17
- Company case study 18
- Carrefour measures to mitigate risk of forced labour in seafood supply chains 18
- Company case study 18
- Danone supports suppliers to prevent child and forced labour 18
- Investor case study 18
- AllianceBernstein engages with Hyundai Motors regarding the risk of child labour 18
- Company case study 18
- Woolworths following up finding payment of recruitment fees in Malaysian supply chain 18
- Investor case study 19
- Danish Pension Fund divesting from Amazon regarding trade unions and collective bargaining 19
- Investor case study 19
- Rathbones Votes Against Slavery collaboration 19
- Investor and company case study 20
- Examples of company approaches to modern slavery risk monitoring and tracking include 20
- Preventing cases after remedy provided 21
- Company case study 21
- Unilever Australia an example of incident analysis reporting 21
- Company case study 21
- Daewoo addressing forced labour issues in Uzbekistan through stakeholder engagement 21
- Investor case study 21
- Norges Bank expands labour practices prevention 21
- Investor case study 22
- Investor contributions to the remedy ecosystem 22
- Advocacy and the remedy ecosystem 22
- Company case study 23
- Outland Denim and others Supply Network Intelligence System 23
- Collective remedy 23
- Mixed stakeholder case study 24
- The Child Labour Remediation Hub 24
- Company case study 24
- Tesco addressing risk of forced labour with industry bodies 24
- Investor case study 24
- Impactt Limited Rabobank LTMA Capital Remedy Finance 24
- Call for Action for investors 25
- Conclusion and recommendations for action 25
- Call for Action for companies 26
- Call for Action for policy makers and regulators 27
- Annex 1 Global legal risk table 28
- Endnotes 31