Finance Against Slavery and Trafficking (FAST)
FAST Initiative (Finance Against Slavery and Trafficking) works to mobilise the financial sector to combat modern slavery and human trafficking. It provides tools, resources, and guidance to financial institutions, policymakers, and businesses. FAST Initiative promotes responsible finance practices to prevent exploitation and supports global efforts to eradicate forced labour and trafficking.
Please login or join for free to read more.
OVERVIEW
Finance Against Slavery and Trafficking (FAST) is a multi-stakeholder initiative based at the United Nations University Centre for Policy Research. It aims to mobilise the financial sector against modern slavery and human trafficking, which affect an estimated 40 million individuals globally and generate approximately USD 150 billion in illicit profits annually.
Established following the release of the ‘Blueprint for Mobilizing Finance Against Slavery and Trafficking’ by the Liechtenstein Initiative for a Financial Sector Commission on Modern Slavery and Human Trafficking, FAST provides a collective-action framework for financial sector actors. The Blueprint outlines five goals and thirty actions to guide the sector’s efforts in combating these issues.
FAST’s primary objectives include strengthening compliance with laws against modern slavery, enhancing risk assessment and due diligence processes, leveraging influence to mitigate associated risks, providing effective remedies for victims, and investing in innovative prevention strategies.
The organisation offers practical tools and resources to support these goals. The ‘Financial Investigations Tool’ assists institutions in conducting investigations into modern slavery and human trafficking. The ‘Leverage Practice Matrix’ provides examples of how financial entities can use their influence to address these issues. Additionally, the ‘Survivor Inclusion Initiative’ collaborates with banks and survivor support organisations to facilitate survivors’ access to basic banking services and financial literacy resources.
By integrating anti-slavery measures into sustainable finance practices, FAST contributes to the broader agenda of responsible and ethical financial operations. Its efforts align with the United Nations Sustainable Development Goals, particularly Target 8.7, which aims to eradicate forced labour, end modern slavery and human trafficking, and secure the prohibition and elimination of the worst forms of child labour.
Through research, training, and global campaigns, FAST engages with a diverse range of stakeholders, including international banks, investor groups, regulators, and survivor support organisations, to promote a financial system that actively combats exploitation and upholds human rights.