The SSE’s Q3 Webinar featured a discussion about forced labour, human trafficking and modern slavery, with guest speakers from the Stock Exchange of Thailand, the UN University, Walk Free, Investors Against Slavery and Trafficing (IAST) and RepRisk. As usual, we had two call options to accommodate the many time zones of our SSE partner exchanges (09:00 or 16:00 Geneva Time).
Exchanges can play a crucial role in detecting, addressing and reporting modern slavery risks throughout their value chain. As a front-runner in addressing the issue, the Stock Exchange of Thailand provided their market with Guidance on Modern Slavery Risks for Thai Businesses in 2021.
In 2016, the International Labour Organisation reported that there are “an estimated 40 million people are in modern slavery, including 25 million in forced labour. Out of the 25 million people trapped in forced labour, 16 million people are exploited in the private sector such as domestic work, construction or agriculture”.
The UN SSE Consultative Group Quarterly Calls allow partner exchanges, regulators, investors, issuers and other key market stakeholders to share their experiences and contribute to the SSE's work plan.
- Summary and Presentation
During the SSE Q3 Webinar, the Stock Exchange of Thailand shared their expertise and experience working on modern slavery guidance for Thai businesses. The SET was joined on the webinar by guest speakers from Walk Free, Finance Against Slavery and Trafficking (FAST), RepRisk and Investors Against Slavery and Trafficking (IAST) talking about the importance of focusing on this essential aspect of the “S” in ESG.
Mr Andy Shen, Lead of Government and Multilateral Organisations at the United Nations University’s CPR/FAST, addressed the participants on the call to provide an overview of FAST’s work and distinguish between the different forms of modern slavery.
Ms Serena Grant, Head of Business Engagement at Walk Free highlighted the need for better disclosure. She also introduced some key tools exchanges and companies can use to identify modern slavery incidents within their own operations and within their supply chains.
As an example of an exchange that has already taken the first steps in helping its markets identify and address any modern slavery incidents, Narrerat Santhayati, Vince President, Sustainable Development at the Stock Exchange of Thailand, shared recent experiences and the challenges SET encountered while working on its guidance.
Showing participants on the call what kind of information can be found related to modern slavery, Jenny Nordby, Head of Partnerships at RepRisk, provided a data-centric overview of human rights issues in different regions and sectors. This type of data is often used by investors but can also be used by exchanges to monitor their market.
Finally, Kate Turner, Deputy Global Head of IAST-APAC, shared the perspective of investors and highlighted why companies and exchanges should work on providing high-quality information on the issue.
Slides
