31st March 2019 – Engagement update
Australia’s Modern Slavery Act passed into law in 2018, requiring Australian companies to start examining the human impacts of their supply chains. RIL managers have been talking to companies as they work through the implications for their business. Our managers have been asking companies to detect and address modern slavery in their supply chains for some time, so the legislative requirement is a positive development.
In the aftermath of the allegations raised in the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry last year, RIL managers continue to engage with financial institutions in Australia as they make efforts to regain community trust in banking.
RIL managers are also continuing to address climate change and plastic pollution with a number of positive engagements and initiatives over the quarter, including investment in the first ‘green bond’ issuance in the telecommunications sector, which will finance projects devoted to energy efficiency.