Engagement update

AMP Capital’s Ethical Leaders (EL) managers in Australia continue to engage with companies as they work through what Australia’s Modern Slavery Act means for their businesses in terms of reporting, disclosure and initiatives to detect and address modern slavery in their supply chains.

Climate change continues to be a key area of focus for EL managers locally and globally. EL managers in Australia are finding that there are increasing calls from business and investors for the government to provide clarity on long-term energy and climate change policy. EL managers followed these developments closely over the quarter and focused on several additional issues, details of which are provided below.

Modern slavery and supply chains

During the quarter, EL Australian Share Fund manager Ausbil engaged with JB Hi-Fi’s management on what practical steps they are taking to prepare themselves for the Modern Slavery Act, given that consumer electronics is a hot spot for labour rights issues. The discussion focused on the benefits JB Hi-Fi gets from membership of the Responsible Business Alliance, as well as the company’s new global ethical sourcing policy and risk-mapping of suppliers.