We’re taking action against modern slavery
Human rights and ethical labour practices are key considerations within our responsible investment approach. It’s important we look for, and report on, the risks of modern slavery in our operations and supply chains and take actions to address those risks. .
Teaming up against modern slavery
We’re working with the Property Council of Australia and 14 leading property organisations to develop and pilot a new online platform that evaluates against the requirements of the Modern Slavery legislation. The platform will streamline the reporting process and allow suppliers to easily share information with property organisations.
We’re also partnering with our current suppliers to understand, educate and help improve our supply chains, and we’ll be establishing relationships with new suppliers and business partners who can demonstrate fair, equitable and ethical practices. We believe socially and environmentally sustainable companies create long-term investment value.
Promoting ethical labour
Our involvement with the platform follows our work as a founding member of the Cleaning Accountability Framework (CAF), a game-changing ethical cleaning certification scheme launched in April 2019. ISPT was the first company in Australia to adopt the CAF in all of our cleaning contracts. To date we have six certified properties, and will continue to certify all retail and commercial properties in our portfolio.
Hidden in plain sight
In Australia, modern slavery is an umbrella term that refers to cases of human exploitation, where the victims can’t refuse or are unable to leave. It affects a range of industries and is often ‘hidden in plain sight’ in the global supply chains and complex operations of businesses, organisations and other entities. Organisations that depend on labour, particularly low-skilled labour, are most at risk of unknowingly supporting modern slavery as part of their operations.
ISPT will continue to build on the initiatives completed to date and work to combat modern slavery within the property sector. In addition to our regulatory obligations, we undertake these activities as the it’s the right thing to do, and core to the values of ISPT and our investors.