Rathbones Investment Management uses BHRRC Modern Slavery Registry to assess & engage FTSE 350 companies
Author: BHRRC, Published on: 17 February 2020
The 2015 Modern Slavery Act was a landmark piece of legislation, requiring all companies over a certain size operating in the UK to report in detail on their approach to finding and eliminating modern slavery within their supply chains.
The Business & Human Rights Resource Centre collaborated with Rathbones Investment Management to analyse the modern slavery statements published by FTSE 350 companies. The Business & Human Rights Resource Centre assessed the statements for compliance with the minimum reporting requirements outlined by the UK Modern Slavery Act 2015. This data was shared with Rathbones Investment Management who will engage with non-compliant companies.
Rathbones Investment Management proposes to write to the board of each non-compliant company with a targeted letter explaining the nature of non-compliance, the steps needed to achieve compliance, and an explanation that members of the engagement coalition will consider witholding their support for the approval of the annual report and accounts at the company's next AGM should these changes not occur.
Related companies: Rathbone Greenbank Investments