On 21st June this year, Ethical Partners was present in the Upper House of the NSW Parliament to watch the passage of the Modern Slavery Bill, Australia’s first legislation on Modern Slavery. This historic legislation is a very positive first step in addressing the issue, and Ethical Partners strongly welcomes the requirements within this bill for enhanced corporate reporting on slavery within supply chains. Several week later, Ethical Partners was also honoured to meet with the Hon.Paul Green MLC, who championed the NSW legislation, in his offices in Parliament. We enjoyed this opportunity to discuss with him the implications of this Bill for company reporting, and how Ethical Partners can help support the application of this legislation in their dealings with companies. We very much look forward to the enhanced reporting and deeper conversation around the issues of supply chain transparency that this legislation can provide.
A week later, a separate Modern Slaverly Bill was introduced to the Australian Parliament on 28 June 2018 by the Assistant Minister for Home Affairs, the Hon Alex Hawke MP. Debate on the Bill will occur in the second half of 2018.
Key elements of the Federal Modern Slavery Bill include:
The Bill does not include:
(Source for details of the Federal Bill: Business and Human Rights Resource Centre, July 2018)
While the response to climate change risk by regulators, financial institutions and publicly listed companies is welcome, it currently is not enough to ensure a safe climate. This submission provides a comprehensive assessment of the current risks relating to Australia's key export sectors.
It is estimated that 100 pairs of hands touch your clothes before they arrive in your wardrobe. That’s 100 people at risk of modern slavery, poor working conditions, and exploitation. Ethical Partners has recently signed the Investor Statement in Support of the maintenance and expansion of the Bangladesh Accord.
During March 2021 the Fund returned 3.07% versus the S&P/ASX 300 Accumulation Index of 2.30%, outperforming the market by 0.77%. An overweight position in consumer staples and an underweight position in materials contributed to relative performance while an overweight position in financials and an underweight position in consumer discretionary detracted from relative performance. The Fund is +20% over the last six months.
Globally, 15% of the population are persons with disabilities. The labor force participation rate globally for people with disabilities sits at 32.8% compared to 77.1% for those without disabilities. We believe it is imperative that investors use their shareholder voice to raise the awareness of this important diversity issue and help companies to improve their inclusion.