Insights | | Modern Slavery Toolbox

Modern Slavery Toolbox

22 April 2025

This toolbox helps finance professionals take action on modern slavery with curated tools, reports, podcasts, and guides. Explore by four key themes or use Action Pathways — short, practical sequences that point you toward relevant resources to support common goals like strengthening statements, assessing risk, or engaging companies.

AUTHORS

Contributions from Matthew Coghlan
Emmalene Wysocki - Editor & Project Manager

Using this Toolbox

This toolbox helps you understand and take action on Modern Slavery in financial systems. Whether you’re shaping strategy, meeting governance requirements, or working towards impact, this toolbox brings together curated resources to support your work.

Ways to explore

1. Start with the Overview

Get familiar with the issue, how it appears in financial systems and why it matters.

2. Explore by Theme

Use the four key themes — Strategy, Governance, Frameworks & Metrics, and System Change — to explore curated resources organised by approach. Each theme includes:

  • a short description of the theme
  • Sustainable Finance Practices related to the theme (SFPs are one of the main taxonomy categories used in the Altiorem library to organise content)
  • selected resources from both the Altiorem library and trusted external sources.

3. Explore or follow an Action Pathway

These short, practical sequences bring together key resources to help you take the next step on common goals related to modern slavery in finance.

 How Toolboxes are structured

Resources in this toolbox are drawn from across the Altiorem Library and organised using Sustainable Finance Practices (SFPs) — one of the key filters we use to categorise content. These practices represent core areas of sustainable finance such as laws and regulations.

To make toolboxes easy to navigate, we’ve grouped related practices under four broad themes: Strategy, Governance, Frameworks & Metrics, and System Change. This helps you explore the issue from the perspective most relevant to your role — whether you’re focused on integration, compliance, measurement, or long-term impact.

Some practices appear in more than one theme depending on context (see table). We’ve included resources wherever they apply, so you can approach the topic from the angle that best supports your work.

Sustainable Finance Practice Where you’ll see it Why it appears in multiple themes
Laws and Regulations Governance
System Change
Covers both internal compliance (e.g. board duties) and external policy reform.
Organisational Change Governance
Strategy
Supports internal structures and strategic alignment for sustainability.
Effective Communication and Greenwash Governance
Strategy
Ensures internal accountability and external transparency.

Prefer to search the library directly?

You can always go straight to the Altiorem library and search for modern slavery, then filter by a Sustainable Finance Practice to find relevant resources on your own.

Topic overview: Modern Slavery

Modern slavery is a hidden crime that encompasses a range of exploitative practices including slavery, servitude, forced or compulsory labour and human trafficking (Parliament of Australia, Walk Free, International Labour Organization). Essentially it refers to situations of exploitation that a person cannot refuse or leave because of threats, violence, coercion, deception, and/or abuse of power – Walk Free.

There are 50 million people worldwide in modern slavery (2021 statistic from the Global Slavery Index, Walk Free).

Source: Video from International Labour Organization September, 2022

Modern slavery affects individuals across the globe, cutting across various demographic and socio-economic groups. The prevalence of modern slavery is particularly high in regions experiencing conflict, weak governance, and significant migration flows. For instance, countries like India, China, and North Korea have some of the highest numbers of people in modern slavery​ (Walk Free).

Efforts to combat modern slavery require action from governments, international organisations, businesses, and civil society. We need to collectively advocate for, and enforce, stronger labour laws, social protection and ethical recruitment practices.

“We can do more than cry for the millions of oppressed modern slaves around the world. As free people, it is our duty to use our voices to speak for the voiceless.” – Yeonmi Park

Action pathways

Explore action pathways for practical guidance on common goals. Each one brings together a small set of curated resources to help you move in the right direction.

Have a different goal in mind? Share your goal with us — we periodically add new pathways based on what our members are working on.

I want to strengthen our modern slavery response

Step 1: Understand what good practice looks like

Research


Good practice toolkit: Strengthening modern slavery responses

This toolkit supports organisations in meeting modern slavery obligations under the Australia Modern Slavery Act, with a focus on human rights due diligence (HRDD).

Use it to:

  • Understand what effective stakeholder and supplier engagement looks like
  • Strengthen your HRDD processes
  • Improve policy design, grievance mechanisms and technology use

 

Step 2: Benchmark against sector peers

Research


Beyond compliance in the finance sector: A review of statements by asset managers under the UK Modern Slavery Act

This review of UK asset manager statements under the Modern Slavery Act identifies leading practices, common gaps, and key compliance issues. It highlights where finance-sector actors are making progress or falling short.

Use it to:

  • Compare your disclosures with peers
  • Improve transparency and due diligence reporting
  • Understand minimum expectations and evolving legal standards

 

Step 3: Assess your internal response

Research


Modern Slavery Benchmarking Tool

This self-assessment tool helps you evaluate how well your internal systems are managing modern slavery risks, including governance, policies and supply chain practices.

Use it to:

  • Assess internal controls and risk areas
  • Benchmark performance against your peers
  • Identify targeted actions to improve your response

To evaluate public reporting, pair the MSBT with tools like the

UNGP Guiding Principles Reporting Framework
.

 

I want to identify modern slavery risks in our investments or supply chain

Step 1: Understand global risk exposure

Online tool/database


Global Slavery Index

This tool provides country- and sector-level data on the prevalence of modern slavery and government responses. It offers a global view of systemic risks such as weak governance, high forced labour rates, and vulnerable populations.

Use it to:

  • Identify geographic hotspots for modern slavery
  • Understand which sectors and industries are most exposed
  • Support early-stage screening or prioritisation for deeper analysis

Note: The GSI gives high-level insights, not company-specific assessments. Use it to set context, not as a substitute for direct due diligence.

 

Step 2: Map risk in your portfolio

Online tool/database


FAST Risk Mapping Tool

This tool links financial activities to sectors and regions with elevated modern slavery risk, based on prevalence data and structural vulnerabilities. It’s designed for use across investment, lending, and procurement contexts.

Use it to:

  • Identify areas where modern slavery risks are embedded in portfolios or supply chains
  • Prioritise clients, suppliers, or investments for deeper due diligence
  • Inform ESG analysis and sector engagement strategies

Note: This tool provides indicative risk signals only—not entity-specific risk scores. Use it to flag potential hotspots for further investigation.

 

Step 3: Integrate into decision-making

Research


RAPID institutional investor guidance framework for the elimination of child labour in supply chains

This resource helps investors integrate human rights risks—such as modern slavery and child labour—into core decision-making and stewardship practices. It includes practical tools for aligning policies and processes with responsible investment standards.

Use it to:

  • Strengthen how modern slavery risks are assessed across investment lifecycles
  • Guide engagement with investees, clients, or suppliers
  • Build internal capability for ongoing human rights due diligence

Note: While RAPID focuses on child labour, its principles are applicable to modern slavery risk management in investment and supply chain settings.

 

I want to engage companies we invest in about modern slavery

Step 1: Understand how finance can drive change

Research


Preventing modern slavery and human trafficking: An agenda for action across the financial services sector

This report outlines the responsibilities and opportunities financial institutions have to address modern slavery and human trafficking (MSHT) risks across their operations and influence. It provides practical guidance on strategy, compliance, data use, survivor inclusion, and organisational culture—supported by case studies and research.

Use it to:

  • Understand how MSHT intersects with financial crime and business models
  • Build awareness across teams and leadership on MSHT risks and responsibilities
  • Strengthen internal culture, monitoring systems, and external influence strategies

 

Step 2: Structure your engagement approach

Research


RAPID institutional investor guidance framework for the elimination of child labour in supply chains

This framework offers a structured method for financial actors to engage companies on modern slavery and child labour. It covers strategy development, organisational capacity-building, and effective escalation.

Use it to:

  • Integrate modern slavery considerations into screening, monitoring, and engagement
  • Plan engagements using clear prompts and escalation pathways
  • Build internal capacity to evaluate and respond to labour rights risks

Note: While focused on child labour, RAPID’s structure is broadly applicable to modern slavery engagements across sectors and geographies.

 

Step 3: Use data to support your case

Online tool/database


KnowTheChain’s benchmark tool

This tool benchmarks how companies across key sectors address forced labour risks in their supply chains. It evaluates transparency, purchasing practices, worker voice, and grievance mechanisms to help financial professionals assess company performance.

Use it to:

  • Identify high-risk companies in your portfolio
  • Strengthen company engagement with credible, sector-specific evidence
  • Inform ESG integration and responsible investment decision-making

Note: KnowTheChain covers sectors with significant supply chain exposure, including ICT, food & beverage, apparel, and automotive.

 

I’m new to this. I want to understand why modern slavery matters in finance

Step 1: Learn how finance and human rights intersect

Research


UNEP FI Human rights toolkit for financial institutions

This foundational guide introduces financial institutions to the intersection of finance and human rights. It outlines how financial actors can embed respect for human rights—including addressing modern slavery—into governance, strategy, and day-to-day operations.

Use it to:

  • Understand your organisation’s responsibilities under international human rights standards
  • Align internal processes with the UN Guiding Principles on Business and Human Rights (UNGPs)
  • Build a baseline for integrating human rights across your products, services, and decision-making

Note: This toolkit applies across banking, investment, and insurance activities.

 

Step 2: Understand financial and legal risk

Research


Financial crime compliance to fight modern slavery and human trafficking

This resource explains how modern slavery and human trafficking (MSHT) pose material risks to financial institutions—particularly through anti-money laundering (AML), counter-terrorism financing, and regulatory compliance obligations.

Use it to:

  • Recognise MSHT as a financial crime and compliance risk
  • Integrate MSHT risk considerations into AML and financial crime controls
  • Strengthen detection and reporting practices through improved data use and governance

Note: This briefing supports both legal compliance and broader ESG risk management strategies.

 

Step 3: See what action looks like in practice

Research


Preventing modern slavery and human trafficking: An agenda for action across the financial services sector

This practical guide highlights how financial institutions are responding to modern slavery. It includes case studies, implementation strategies, and guidance on influencing business partners, supporting survivors, and embedding MSHT in financial crime functions.

Use it to:

  • Explore real-world examples of financial sector responses to modern slavery
  • Develop strategies for engaging clients, suppliers, or partners on MSHT risk
  • Build internal frameworks that support long-term action and cultural change

“Injustice anywhere is a threat to justice everywhere.” —Martin Luther King, Jr., American civil rights leader

Strategy

Approaches and methodologies for understanding the issue and embedding it into financial decision-making. This includes investment analysis, risk integration, product development, and client advisory practices.

Relevant Sustainable Finance Practices

  • Effective Communication and Greenwash
  • ESG Strategy, Analysis and Integration
  • Issue/Sector Focused Research
  • Organisational Change
  • Product Development and Trends
  • Sustainable Financial Advice and Consulting

Library resources

Research

Bridging ESG silos: The intersection of climate change and modern slavery

➤ Provides practical tools to integrate climate-linked modern slavery risks into ESG analysis and due diligence, including metrics and engagement guidance.

ESG strategy, analysis and integration

 

Preventing modern slavery and human trafficking: An agenda for action across the financial services sector

➤ Outlines practical steps for integrating modern slavery risks into ESG analysis, investment decision-making, and credit assessments across financial institutions.

Effective communication and greenwash ESG strategy, analysis and integration

 

Beyond compliance in the finance sector: A review of statements produced by asset managers under the UK Modern Slavery Act

➤ Assesses how asset managers are integrating modern slavery risks into ESG practices, including portfolio due diligence, risk assessment, and engagement with investee companies.

ESG strategy, analysis and integration

 

Good practice toolkit: Strengthening modern slavery responses

➤ Offers step-by-step guidance for embedding modern slavery risk into governance, operations, and ESG systems using maturity models and practical tools.

ESG strategy, analysis and integration Organisational change

 

RAPID institutional investor guidance framework for the elimination of child labour in supply chains

➤ Designed specifically for institutional investors to embed child labour risk analysis into ESG investment decisions, metrics, and due diligence processes. It offers a structured ESG-aligned methodology (RAPID: Reframe, Agree, Provide, Insist, Develop) to integrate human rights into investment workflows.

ESG strategy, analysis and integration

 

Financial crime compliance to fight modern slavery and human trafficking

➤ Outlines practical steps for integrating modern slavery risks into ESG analysis, investment decision-making, and credit assessments across financial institutions.

Organisational change

 

UNEP FI Human Rights Toolkit for financial institutions

➤ Provides practical guidance for financial institutions to embed human rights across governance structures, policies, due diligence, and stakeholder engagement. It supports organisational change and strategic ESG integration while promoting transparency and responsible reporting.

Effective communication and greenwash ESG strategy, analysis and integration Organisational change

 

Financial services and modern slavery: Practical responses for managing risk to people

➤ Provides financial institutions with practical tools to identify, manage, and integrate modern slavery risks across investment, lending, and governance processes.

ESG strategy, analysis and integration Organisational change

 

Online tool/databases

FAST connection diagnostic and risk mapping

➤ Aids finance professionals in identifying and mitigating forced labour and human trafficking risks in supply chains. It provides a database of high-risk geographies, practical guidance, and resources to enhance due diligence, enable customised risk assessments, and support responsible investment practices.

Effective communication and greenwash ESG strategy, analysis and integration

 

KnowTheChain’s benchmark tool

➤ A benchmarking tool that assesses how companies address forced labour risks in their supply chains. It supports ESG integration by providing actionable indicators for investment analysis and encourages transparency and ethical practices across sectors.

ESG strategy, analysis and integration

 

Global Slavery Index

➤ Offers data-driven insights on modern slavery prevalence and risk to support ESG integration, due diligence, and informed investment strategies.

ESG strategy, analysis and integration

 

Modern slavery benchmarking tool

➤ Provides a practical framework to assess and strengthen modern slavery risk management across operations, supply chains, and investment practices.

ESG strategy, analysis and integration Organisational change

 

External resources

Webinars

Preventing Modern Slavery and Human Trafficking in the Financial Sector

➤ Explores how financial institutions can integrate modern slavery risk into investment strategy, client due diligence, and governance processes—emphasising strategic influence, prevention, and sector-wide leadership.

ESG strategy, analysis and integration Organisational change

 

IASC and The Investor Forum event: The role of investors in eradicating modern slavery

➤ Outlines how financial institutions can embed modern slavery risk into ESG strategies, investment practices, and internal systems, with five key recommendations for sector-wide improvement.

ESG strategy, analysis and integration Organisational change

 

Articles

What I’ve learned from the research on framing of modern slavery

➤ Provides evidence-based guidance on framing modern slavery to improve public understanding, advocacy, and communications strategy.

ESG strategy, analysis and integration Organisational change

Strategy tip: Incorporate modern slavery considerations into your due diligence processes at the beginning of any new business relationships and maintain this diligence ongoing (Pages 30-31, Preventing modern slavery and human trafficking: An agenda for action across the financial services sector).

Governance

Internal systems, responsibilities, and legal obligations that ensure the issue is addressed through oversight, compliance, policy, and organisational change. This includes the role of directors, regulatory frameworks, and internal governance processes.

Relevant Sustainable Finance Practices

  • Governance and Directors’ Duties
  • Organisational Change
  • Laws and Regulations
  • Effective Communication and Greenwash

Library resources

Research

Good practice toolkit: Strengthening modern slavery responses

➤ Addresses board-level roles and oversight in managing modern slavery risks within sustainability governance.

Governance and Directors’ Duties

 

Online tools/databases

FAST connection diagnostic and risk mapping

➤ Aids finance professionals in identifying and mitigating forced labour and human trafficking risks in supply chains. It provides a database of high-risk geographies, practical guidance, and resources to enhance due diligence, enable customised risk assessments, and support responsible investment practices.

Effective communication and greenwash

 

External resources

Articles

What I’ve learned from the research on framing of modern slavery

➤ Provides evidence-based guidance on framing modern slavery to improve public understanding, advocacy, and communications strategy.

Governance and Directors’ Duties

 

The expectation of continuous improvement in combating modern slavery

➤ Highlights internal governance improvements to strengthen modern slavery oversight, risk management, and board accountability.

Governance and Directors’ Duties Organisational change

 

Governance tip: Develop internal oversight and compliance measures that ensure that modern slavery issues are fully integrated into business processes and governance structures, including the roles of directors and regulatory frameworks (Page 6, Good practice toolkit: Strengthening modern slavery responses).

Frameworks and metrics

Voluntary standards, guidance, and measurement tools that support implementation and accountability. This includes KPIs, verification approaches, and frameworks used to assess and report on action to address the issue.

Relevant Sustainable Finance Practices

Resources in this theme are aligned with the following Sustainable Finance Practices from the Altiorem library:

  • Industry Standards and Guidance
  • Impact Measurement and Verification

Library resources

Research

Modern slavery reporting – Guide for investors

➤ Outlines investor expectations and good practice for modern slavery disclosures, supporting improved reporting and risk oversight across portfolios.

Impact measurement and verification

 

Online tools/databases

UNEP FI Human Rights Toolkit for financial institutions

➤ Provides financial institutions with a practical framework to integrate human rights into governance, due diligence, and decision-making processes.

Impact measurement and verification

 

KnowTheChain’s benchmark tool

➤ Assesses corporate performance on forced labour risks in supply chains, enabling investors to benchmark companies and inform responsible investment decisions.

Impact measurement and verification

 

Modern slavery benchmarking tool

➤ Evaluates company policies, risk areas, and practices to identify and address modern slavery, supporting compliance, transparency, and investor decision-making.

Impact measurement and verification

Frameworks and metrics tip: Provide training for staff and management on identifying modern slavery risks and the firm’s policies regarding them to ensure everyone understands their role in mitigation (Pages 14, Modern slavery reporting – Guide for investors).

System change

Collective efforts and structural reforms that tackle the root causes of the issue. This includes systems thinking, advocacy, policy transformation, and economic models that promote long-term, systemic solutions.

Relevant Sustainable Finance Practices

Resources in this theme are aligned with the following Sustainable Finance Practices from the Altiorem library:

  • Fixing Financial and Economic Systems
  • Stakeholder Engagement and Advocacy
  • Laws and Regulations
  • Active Ownership

Library resources

Research

Financial services and modern slavery: Practical responses for managing risk to people

➤ Explores how financial systems can shift to prioritise human rights by embedding modern slavery risk into core governance, investment, and lending practices.

Stakeholder Engagement and Advocacy

 

Modern slavery and remediation – An investor’s guide

➤ Guides investors on engaging companies and collaborating with stakeholders to drive effective remediation and accountability for modern slavery harms.

Active ownership Stakeholder Engagement and Advocacy

 

Financial crime compliance to fight modern slavery and human trafficking

➤ Explores how financial crime compliance systems can be adapted to detect, prevent, and respond to modern slavery and human trafficking risks across financial operations.

Fixing financial and economic systems

 

Human rights in global value chains investor toolkit

➤ Equips investors with tools to assess and address human rights risks across global value chains, supporting integration into investment processes and engagement.

Stakeholder Engagement and Advocacy

 

Online tool/database

Global Slavery Index

➤ Offers data-driven insights on modern slavery prevalence and risk to support ESG integration, due diligence, and informed investment strategies.

Stakeholder Engagement and Advocacy

 

Fighting modern slavery and human trafficking Part 1

➤ Supports cross-sector expectations by training financial actors in identifying, addressing, and reporting modern slavery risks, aligning institutional practices with human rights standards.

Stakeholder Engagement and Advocacy

 

External resources

The expectation of continuous improvement in combating modern slavery

➤ Explores evolving legal expectations under modern slavery acts, emphasizing the duty of continuous improvement and reporting compliance.

Laws and regulations

 

Systems change tip: Engage in multi-stakeholder initiatives that bring together businesses, civil society, and government bodies to share knowledge and address systemic root causes of modern slavery (Pages 21, Modern slavery remediation – An investor’s guide).

If you would like to suggest highly relevant resources to include in this Toolbox, please submit your ideas to our Content suggestion form. Be sure to mention it is for this toolbox in the comments box at the end of the form.