Corporate human rights reporting in Australia has changed.
The Modern Slavery Act 2018 (Cth) makes boards responsible for public statements about their entities’ efforts to assess and manage the risk of modern slavery in their operations and supply chains. More importantly, it has triggered an increase in stakeholder expectations around human rights and is influencing major business decisions in terms of investment, partnership or procurement.
The sector faces an elevated risk of modern slavery within its operations and supply chains as a result of factors such as:
- high demand for low-skilled labour force
- poor visibility over long and complex supply chains
- low-tier suppliers operating in high-risk geographies
- tight project deadlines and seasonality.
Approximately 18% of global modern slavery victims are found in the property and construction sector.
Modern slavery risks in the property and construction sector are only increasing in the COVID-19 context. Taking a rights-based approach to modern slavery risk management helps your business to move beyond a compliance-focused approach and to respond effectively to the modern slavery risks in your operations and global supply chains.
A practical guide
KPMG Australia and the Australian Human Rights Commission have collaborated to bring you ‘Property, construction & modern slavery’, a practical guide to:
- highlight particular modern slavery risks prevalent in the property and construction sector
- provide tips for the property and construction sector on leading practice and a rights-based approach to managing modern slavery risk
- foster transparent modern slavery reporting for the benefit of business, government and the people at risk of harm.
Over the coming months, KPMG and the Australian Human Rights Commission will release a series of sector-specific guides.
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