Investors will begin lobbying data providers to incorporate modern slavery into their ESG ratings and will commission “a new rating tool” to help them tackle the issue.
A £7trn investor initiative led by UK asset manager CCLA has reviewed existing data and will now “seek to fill a gap in the provision by commissioning a new rating tool”, according to its latest report.
Launched in 2019, the Find It, Fix It, Prevent It campaign counts Aviva Investors, Australian Super, Fidelity International and Schroders amongst its 56 supporters. It aims to tackle modern slavery - which affects approximately 40.3m people globally - by promoting public policy, corporate engagement and improved data.
Now it says it is coordinating investors, academics and NGOs to develop data points on modern slavery and will “lobby” ESG data houses to encourage them to “include indicators relating to modern slavery in their standard ratings products and work with the go…