How the financial industry can help stop modern slavery

Industry ignorant of the problem

clock • 4 min read
Saskia Kort-Chick of Alliance Bernstein
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Saskia Kort-Chick of Alliance Bernstein

Modern slavery is a lucrative business that can’t exist without the financial system.

Yet the financial industry is largely ignorant of the problem. Asset managers have an important role to play in challenging poor practices that allow this social evil to persist. Forced labour, debt bondage and human trafficking victimise more than 40 million people worldwide each year. Governments and companies are increasing efforts to combat many forms of human exploitation in business operations and supply chains across industries from mining to agriculture to retail. Yet, in every sector, modern slavery has one thing in common: it is driven by the massive profits reaped from taking ...

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