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 — like laws and regulations or stakeholder engagement — appear in more than one theme depending on context. We’ve included resources wherever they apply, so you can approach the topic from the angle that best supports your work.

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 the Action Pathways below 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 something else in mind? Share your goal with us — we regularly add new pathways based on what our members are working on.

I want to strengthen our modern slavery statement

Step 1: Understand what good practice looks like

Good practice toolkit: Strengthening modern slavery responses

Start by reviewing guidance on what effective action looks like under modern slavery legislation. This resource outlines good practice in disclosure, risk assessment, and stakeholder engagement, helping you build a strong foundation for your organisation’s response.

Use it to:

Understand key elements of a mature modern slavery approach.
Clarify what stakeholders and regulators expect from modern slavery reporting.
Identify strategies for going beyond compliance in meaningful ways.

Step 2: Review what others are doing

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

Explore findings from an in-depth review of modern slavery statements by asset managers under the UK Modern Slavery Act. This resource highlights common gaps, stronger practices, and areas where finance-sector actors are leading or lagging.

Use it to:

Benchmark your current approach against peers in the finance sector.
Learn how others disclose their due diligence, remediation, and supplier engagement efforts.
Identify reporting styles and formats that improve transparency and usability.

Step 3: Evaluate your own statement

Modern Slavery Benchmarking Tool

Use this self-assessment checklist to evaluate how your organisation is managing modern slavery risks across governance, risk assessment, supply chain management, and remediation. The MSBT helps you identify internal gaps in systems and practices that support your modern slavery response.

Note: The MSBT is focused on assessing internal processes, not public reporting. To evaluate the quality of your modern slavery statement, combine the MSBT with disclosure-focused tools (e.g. UNGP Reporting Framework) and peer comparisons from Step 2.

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

Step 1: Understand global risk exposure

Global Slavery Index

Start by reviewing country and sector-level data on the prevalence of modern slavery and government responses. The GSI provides a global picture of systemic risks, including weak governance, high prevalence of forced labour, 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 of areas for deeper risk analysis.

Note: The GSI gives a high-level overview, but does not assess individual companies, clients, or suppliers. Use it as a context-setting tool, not as a substitute for due diligence.

Step 2: Map risk in your portfolio

FAST Risk Mapping Tool

Use the Finance Against Slavery and Trafficking (FAST) risk mapping tool to identify modern slavery risks across your investment, lending, or procurement activities. The tool links financial activities to sectors and countries with elevated risk based on both prevalence and structural vulnerability.

Use it to:

Spot where modern slavery risks are embedded in investment portfolios or supply chains.
Prioritise clients, suppliers, or investments for deeper engagement.
Inform thematic ESG analysis and sector engagement strategies.

Note: This tool provides indicative risk mapping, not company-specific risk scores. For high-risk entities, follow up with direct due diligence or engagement.

Step 3: Integrate into decision-making

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

Apply the RAPID framework to embed human rights risk—including modern slavery and child labour—into investment decision-making and stewardship. This guidance provides practical tools to align your policies and processes with responsible investment standards.

Use it to:

Strengthen how modern slavery risks are assessed and considered in pre-investment, monitoring, and engagement processes.
Guide collaborative engagement with investees, clients, or suppliers.
Build internal capacity for ongoing human rights due diligence.

Note: While RAPID focuses on child labour, its principles apply broadly to modern slavery risk management within investment and supply chain contexts.

I want to engage companies we invest in about modern slavery

Step 1: Understand how finance can drive change

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

Outlines roles and responsibilities of financial actors in addressing modern slavery.

Step 2: Structure your engagement approach

RAPID institutional investor guidance framework for the elimination of child labour in supply chains
Provides specific prompts and escalation strategies for investor engagement.

Step 3: Use data to support your case

KnowTheChain’s benchmark tool

Tracks and compares company responses to forced labour across sectors to inform engagement.

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

Step 1: Learn how finance and human rights intersect

UNEP FI Human rights toolkit for financial institutions

Foundational guide for financial institutions on integrating human rights into governance and operations.

Step 2: Understand financial and legal risk

Financial crime compliance to fight modern slavery and human trafficking

Explains how modern slavery poses anti-money laundering and regulatory risks to financial institutions.

Step 3: See what action looks like in practice

Preventing modern slavery and human trafficking: An agenda for action across the financial services sector
Highlights how finance organisations are implementing strategies to address modern slavery.

Strategy

What this theme covers

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

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

ESG Strategy, Analysis and Integration
Issue/Sector Focused Research
Product Development and Trends
Sustainable Financial Advice and Consulting

Library resources

Good practice toolkit: Strengthening modern slavery responses

Australian Human Rights Institute

This toolkit provides guidance on improving business practices under Australia's Modern Slavery Act. It emphasises effective stakeholder and supplier engagement, human rights due diligence, and the use of digital technologies. The toolkit includes practical examples and recommendations for businesses, governments, and civil society to better combat modern slavery.

Modern Slavery Toolbox

AUTHORS

Using this Toolbox

Ways to explore

1. Start with the Overview

2. Explore by Theme

3. Explore or follow an Action Pathway

How Toolboxes are structured

Prefer to search the library directly?

Topic overview: Modern Slavery

Action pathways

I want to strengthen our modern slavery statement

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

I want to engage companies we invest in about modern slavery

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

Strategy

What this theme covers

Relevant Sustainable Finance Practices

Library resources

Preventing modern slavery and human trafficking in the financial sector

Webinar

Modern slavery – A gendered issue

Webinar

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

Webinar

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

Article

Governance

What this theme covers

Relevant Sustainable Finance Practices

Library resources

Modern slavery – A gendered issue

Webinar

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

Webinar

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

Article

Frameworks and metrics

What this theme covers

Relevant Sustainable Finance Practices

Library resources

Preventing modern slavery and human trafficking in the financial sector

Webinar

Modern slavery – A gendered issue

Webinar

The expectation of continuous improvement in combating modern slavery

Article

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

Article

Fighting modern slavery and human trafficking part 2: US sex and exploitation cases

Course

System change

What this theme covers

Relevant Sustainable Finance practices

Library resources

Preventing modern slavery and human trafficking in the financial sector

Webinar

Fighting modern slavery and human trafficking part 2: US sex and exploitation cases

Course

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

Webinar

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.

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