The Australian Human Rights Commission and KPMG Australia have launched a new guide to help the sector respond effectively to the Modern Slavery Act 2018.
The Act requires large companies with a consolidated annual revenue of $100 million or more to report annually on their strategies to address risks of modern slavery in their operations and supply chains.
Modern slavery refers to a range of serious human rights violations, which are also crimes in Australia, including human trafficking, slavery, servitude and forced marriage; forced labour, debt bondage and child labour; and deceptive recruiting for labour or services.
According to the Global Slavery Index, more than 40 million people around the world are living in modern slavery conditions and up to 15,000 victims are living in Australia.
The guide is relevant for resources sector entities that are required to report under the Act.
Richard Boele, Partner in Charge of KPMG Banarra Human Rights and Social Impact, and Global Leader of KPMG’s international Business and Human Rights Network said the need to decarbonise means that the global energy mix is rapidly shifting. This shift is creating increasing crossover between the resources and energy sectors in both their operations and supply chains.
“It’s in this context that companies must challenge their thinking on where they’ll find risk to people. Transition is creating new and emerging human rights and social risks that we have to identify and understand.”
Commission President Emeritus Professor Rosalind Croucher AM said: “Taking a rights-based approach to addressing modern slavery will assist energy and resources companies to meet the increasing expectations of investors, governments, clients, consumers, business peers and civil society around business respect for human rights.”
Mr Boele said the guide aims to support businesses to respond meaningfully to the modern slavery risks across a range of sectors.
“Effective management of modern slavery risks involves placing ‘risk to people’ at the heart of your response.”