What makes it a scourge today is that forced labour is becoming more common around the globe. If people are pressed into working for little or no pay, then their bosses will pocket higher profits.
It is estimated by the International Labour Organisation that there are now 50 million slaves in the world; about a quarter are children and 22 million are women in forced marriages. The numbers have risen rapidly in recent times.
But large investment groups are now trying to stamp it out, aided by evidence uncovered by the likes of Kim Randle through her company, Fair Supply. She takes a global approach, sifting massive amounts of data reported by public companies, national accounts released by 197 countries and other sources, to provide investment managers with the power to starve the slavery business of money.
Corporate involvement forms part of the enormous pressure for rules on environmental, social and governance practices – known as ESG – to be enforced. Every major global money centre has adopted new standards, and Fair Supply’s job is to collate the mountains of data released by diverse organisations and hold them to account on their obligations.
Randle says that despite the growing number of slaves in the world, there is no concerted action to ban slavery. “There are two schools of thought,” she says. “The first is to do no harm on ESG issues. But there is also an opportunity to have a positive impact by making investment decisions that are planet and people positive. The exciting thing is that listed entities are using our data to quantify their ESG risks.”
هذه القصة مأخوذة من طبعة March 2023 من Money Magazine Australia.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة March 2023 من Money Magazine Australia.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
An outrageous, beautiful monopoly
Telstra's mobile business is a cash machine with few competitors, giving it the highest returns in the world.
Drop the anchor to judge value
Buying and selling decisions should be based on where a stock price is going, not where it has been.
Powering the AI boom
Beyond the software and chipmakers, where will the energy come from?
Get into life
Tucked inside super are products that can protect you from life's inevitable uncertainties.
Paths to home ownership
Taking the road less travelled can sometimes deliver unexpected benefits.
Sold! Quick ways to add value
Small, strategic changes can have a big impact on the look and feel of your home. And get you a better price on auction day.
Money lessons the kids need to know
Your children can learn a lot from your past money mishaps. Here are eight financial conversations I have had with mine.
Property-investing rules: are they likely to change?
The pressure for the government to curb the tax benefits of tax concessions, such as negative gearing and the capital gains tax discount, is unrelenting. Most recently, independent senators David Pocock and Jacqui Lambie proposed five options for paring back investment property tax concessions, with savings to the Federal budget of up to $60 billion over the next decade.
What's love got to do with it?
A rollercoaster of emotions could be driving poor crypto behaviour.
Are we ready to be cash-free?
Saying goodbye to our piggy banks too soon could leave small businesses in the dark when problems arise.