With an estimated 50 million people worldwide in modern slavery1, the financial sector faces growing expectations and regulatory requirements to report, mitigate, prevent, and remediate modern slavery risks. However, the often deliberately hidden nature of modern slavery incidents presents a challenge for investors to identify and measure these risks. This challenge is exacerbated by intricate, opaque global supply chain networks and the lack of nuanced, high-quality data. In the face of these challenges, new and promising tools have emerged: the integration of artificial intelligence and other new technologies. They could potentially revolutionise the way investors and businesses address modern slavery risks.
This paper results from a collaboration between CCLA, the Human Rights and Modern Slavery Policy and Evidence Centre and UN University’s Centre for Policy Research’s Finance Against Slavery and Trafficking.
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