The Responsible Investment Association Australasia (RIAA) and the Investors Against Slavery and Trafficking Asia Pacific (IAST APAC) have jointly released a supporting statement urging the New Zealand Government to introduce the Combatting Trafficking in Persons and Modern Forms of Slavery Bill (the Bill) and support its passage without delay.
The organisations highlight Aotearoa New Zealand’s growing misalignment with key international trade partners, including Australia, UK and EU, which already have modern slavery laws. Without action, New Zealand risks becoming a destination for unethical practices.
In 2022, it was estimated that New Zealand imported $7.9 billion of risky goods associated with child and forced labour, representing 10% of total imports. It was also estimated that the average household spent about $77 each week on risky goods – bringing this issue into the lives of everyday Kiwis.i “Modern slavery poses serious risks to businesses, investors and communities,” said Dean Hegarty, Co-CEO of RIAA. “If we fail to act, New Zealand risks becoming a dumping ground for forced labour products, as stronger legislation overseas diverts these unethical goods to Kiwis.”
Last week, in his State of the Nation address,ii Prime Minister Luxon recognised both the importance of making New Zealand an attractive destination for global capital and the challenges of competing on the global stage to bring that capital to New Zealand. “Strengthening modern slavery legislation to ensure New Zealand aligns with its trading partners is essential to achieving this objective,” said Dean.
“In a world of increased regulatory focus on the issue of modern slavery, we are encouraged by the bill and its intent; to strengthen New Zealand’s current legislation. With an estimated 50 million people in modern slavery conditions globally, often hidden deep down in supply chains, this is a complex issue and represents a systemic issue for investors. Strengthened legislation in New Zealand, supported by investor engagement, could be another step on the journey to combat modern slavery and other major human rights issues,” said Måns Carlsson OAM, Head of ESG / Co-Portfolio Manager, Ausbil’s Active Sustainable Equity Fund, on behalf of IAST-APAC.
The Bill would mandate reporting by public and private organisations on their efforts to address trafficking and modern slavery risks within their operations and supply chains. It also seeks to align New Zealand with Australia, by establishing an Independent Anti-Slavery Commissioner to ensure accountability and strengthen protections for victims.
The Bill has been drafted to reflect political consensus on modern slavery policy and is designed to be co-sponsored by New Zealand’s two major political parties. This Bill is not intended to be the final word on combatting modern slavery but rather a pragmatic step forward for modern slavery legislation and trafficking in persons efforts. If introduced to the House as intended, there would be opportunity for robust consultation with stakeholders during the ordinary parliamentary process. This crucial legislation would bring New Zealand in line with global standards on modern slavery reporting and protections.
RIAA and IAST APAC urge the Government to act swiftly, leveraging insights from Australia’s recent review of its Modern Slavery Act, to ensure New Zealand adopts robust, future-fit legislation. The full supporting statement can be accessed here.
For further information, please contact:
Dean Hegarty, Co-CEO of RIAA, dean@responsibleinvestment.org, 0224 710 653
About RIAA
The Responsible Investment Association Australasia (RIAA) champions responsible investing and a sustainable financial system in Australia and New Zealand.
With over 500 members representing NZ$83 trillion in assets under management, RIAA is the largest and most active network of people and organisations engaged in responsible, ethical and impact investing across Australia and New Zealand. Our membership includes super funds, KiwiSaver providers, fund managers, banks, consultants, researchers, brokers, impact investors, property managers, trusts, foundations, faith-based groups, financial advisers and individuals.
About IAST APAC
Investors Against Slavery and Trafficking Asia Pacific (IAST APAC) is an investor-led multistakeholder initiative convened to promote effective action among companies in the Asia-Pacific region to ‘find, fix and prevent’ modern slavery, labour exploitation, and human trafficking in their value chains. It currently has 50 members representing AU$12 trillion assets under management.
IAST APAC focuses on encouraging companies to address a simple question: what slavery risks have you addressed?
Across the Asia-Pacific region, IAST APAC participants will work together to foster good practice in investor engagement with companies exposed to modern slavery risks.
<br>
i World Vision, 2023, Risky Goods - Supply Chain Risk Report
ii Rt Hon Christopher Luxon, 23 January 2025, Economic growth the key to better days ahead | Beehive.govt.nz
About the contributors
About the speakers
The Responsible Investment Association Australasia (RIAA) and the Investors Against Slavery and Trafficking Asia Pacific (IAST APAC) have jointly released a supporting statement urging the New Zealand Government to introduce the Combatting Trafficking in Persons and Modern Forms of Slavery Bill (the Bill) and support its passage without delay.
The organisations highlight Aotearoa New Zealand’s growing misalignment with key international trade partners, including Australia, UK and EU, which already have modern slavery laws. Without action, New Zealand risks becoming a destination for unethical practices.
In 2022, it was estimated that New Zealand imported $7.9 billion of risky goods associated with child and forced labour, representing 10% of total imports. It was also estimated that the average household spent about $77 each week on risky goods – bringing this issue into the lives of everyday Kiwis.i “Modern slavery poses serious risks to businesses, investors and communities,” said Dean Hegarty, Co-CEO of RIAA. “If we fail to act, New Zealand risks becoming a dumping ground for forced labour products, as stronger legislation overseas diverts these unethical goods to Kiwis.”
Last week, in his State of the Nation address,ii Prime Minister Luxon recognised both the importance of making New Zealand an attractive destination for global capital and the challenges of competing on the global stage to bring that capital to New Zealand. “Strengthening modern slavery legislation to ensure New Zealand aligns with its trading partners is essential to achieving this objective,” said Dean.
“In a world of increased regulatory focus on the issue of modern slavery, we are encouraged by the bill and its intent; to strengthen New Zealand’s current legislation. With an estimated 50 million people in modern slavery conditions globally, often hidden deep down in supply chains, this is a complex issue and represents a systemic issue for investors. Strengthened legislation in New Zealand, supported by investor engagement, could be another step on the journey to combat modern slavery and other major human rights issues,” said Måns Carlsson OAM, Head of ESG / Co-Portfolio Manager, Ausbil’s Active Sustainable Equity Fund, on behalf of IAST-APAC.
The Bill would mandate reporting by public and private organisations on their efforts to address trafficking and modern slavery risks within their operations and supply chains. It also seeks to align New Zealand with Australia, by establishing an Independent Anti-Slavery Commissioner to ensure accountability and strengthen protections for victims.
The Bill has been drafted to reflect political consensus on modern slavery policy and is designed to be co-sponsored by New Zealand’s two major political parties. This Bill is not intended to be the final word on combatting modern slavery but rather a pragmatic step forward for modern slavery legislation and trafficking in persons efforts. If introduced to the House as intended, there would be opportunity for robust consultation with stakeholders during the ordinary parliamentary process. This crucial legislation would bring New Zealand in line with global standards on modern slavery reporting and protections.
RIAA and IAST APAC urge the Government to act swiftly, leveraging insights from Australia’s recent review of its Modern Slavery Act, to ensure New Zealand adopts robust, future-fit legislation. The full supporting statement can be accessed here.
For further information, please contact:
Dean Hegarty, Co-CEO of RIAA, dean@responsibleinvestment.org, 0224 710 653
About RIAA
The Responsible Investment Association Australasia (RIAA) champions responsible investing and a sustainable financial system in Australia and New Zealand.
With over 500 members representing NZ$83 trillion in assets under management, RIAA is the largest and most active network of people and organisations engaged in responsible, ethical and impact investing across Australia and New Zealand. Our membership includes super funds, KiwiSaver providers, fund managers, banks, consultants, researchers, brokers, impact investors, property managers, trusts, foundations, faith-based groups, financial advisers and individuals.
About IAST APAC
Investors Against Slavery and Trafficking Asia Pacific (IAST APAC) is an investor-led multistakeholder initiative convened to promote effective action among companies in the Asia-Pacific region to ‘find, fix and prevent’ modern slavery, labour exploitation, and human trafficking in their value chains. It currently has 50 members representing AU$12 trillion assets under management.
IAST APAC focuses on encouraging companies to address a simple question: what slavery risks have you addressed?
Across the Asia-Pacific region, IAST APAC participants will work together to foster good practice in investor engagement with companies exposed to modern slavery risks.
<br>
i World Vision, 2023, Risky Goods - Supply Chain Risk Report
ii Rt Hon Christopher Luxon, 23 January 2025, Economic growth the key to better days ahead | Beehive.govt.nz
