Session organized by the Centre for policy research at United Nations University
Webcast of the session:Meeting linkMeeting number: 841 558 315
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Session description and objectives
In 2015, in adopting SDG 8.7, 193 States pledged to take immediate and effective measures to end modern slavery and human trafficking by 2030. This commitment was reinforced by the UN Security Council, the G7 and the G20. The financial sector has an important role to play in addressing and preventing these crimes and the UN Guiding Principles on Business and Human Rights (UNGPs) provide a foundation for the sector to accelerate action in this area.
This session will consider how the UNGPs provide opportunities for financial sector actors to embed human rights due diligence throughout global value chains, to build and use their leverage across financial products and services, and to provide and enable remedy. The session will discuss how States and the sector can collaborate to address the risks to people posed by modern slavery and human trafficking, including lessons from the Asia-Pacific – where modern slavery prevalence is highest – and also from lessons learned from the Brazilian fight against slave labour.
Public-private partnerships have been a key force in advancing work in this area. The Liechtenstein Initiative for a Financial Sector Commission on Modern Slavery and Human Trafficking is a prime example. A multi-stakeholder initiative between the Governments of Liechtenstein, Australia and the Netherlands and private sector actors, the UNGPs serve as a core element of the Commission’s Blueprint for accelerated financial sector action. This session will present the Commission Blueprint, which will be launched in September 2019 at the UN General Assembly.
Format of the session
Interactive panel discussion
Key discussion questions
- How can governments work with the financial sector to end modern slavery and human trafficking?
- How can financial sector actors use their leverage creatively to tackle modern slavery and human trafficking?
- How can financial sector actors enable remedy?
