Modern Slavery Statement Disclosure Quality
Modern slavery disclosure is a critical step in mitigating the risk associated with modern slavery practices in companies’ operations and supply chains. The quality of the disclosure signals the level of commitments and efforts that the companies have undertaken in managing these risks.
Our work spans research into disclosure quality of a range of modern slavery statements submitted by Australian listed companies. We also offer a regular executive education program for employees undertaking organisational modern slavery reporting.
Authors
Modern Slavery Research Program
Project 1
Our first research project focused on the disclosure quality of the modern slavery statements submitted by the 100 largest listed companies on the Australian Stock Exchange - ASX100 companies for FY2020. The analysis covered 99 statements available by 30th June 2021. Statements were read, scored and reviewed according to the scoring template with five sub-scores.
There was a wide dispersion in terms of the disclosure quality of the Modern Slavery Statements 2020 submitted by S&P/ASX100 companies. Large companies with a large number of employees and big supply spend scored well on modern slavery disclosure quality. Good modern slavery statements showed a history of continued effort in managing modern slavery and other human rights issues. Companies, investors and governments need to proactively work together to improve the reporting standards of modern slavery practices and develop a standardised framework for modern slavery statements.
Project 2
Our second research project created a new framework to assess the modern slavery statements submitted by the 300 largest listed companies on the Australian Stock Exchange - ASX300 companies for FY2020. Using an A-F rating system, we analysed the disclosure statements. This ratings system is an important step in assisting companies to progressively improve their reporting.
The Monash Centre for Financial Studies plans to conduct ongoing annual reviews of modern slavery statements by ASX300 companies.
View the ASX100 Research Brief
MCFS and Institutional Shareholder Services (ISS) joint research paper
- Clare Bartram, ESG Specialist, Modern Slavery, ISS ESG.
- Nga Pham, PhD, CFA., Research Fellow, Monash Centre for Financial Studies.
In a recent joint paper, ISS ESG’s Modern Slavery Scorecard and MCFS research on corporate disclosures under the MSA identify key gaps in S&P/ASX 300 modern slavery reporting and performance.
Project 3
Modern Slavery Disclosure Quality Ratings: ASX100 Companies Update 2022
This research brief presents the second year of Monash’s Modern Slavery Research program, in which we assessed statements of ASX100 companies in FY2021 using the enhanced methodology – MSD 2.0. The enhanced methodology looks into more granular elements of risk identification, due diligence and remediation processes, and KPIs, and, thus, allows further insights into best practices.
View the ASX100 FY2021 Ratings Updates
Project 4
Modern Slavery Disclosure Quality Ratings: ASX100 Companies Update 2023
This research brief presents the third year of Monash’s Modern Slavery Research program, in which we assessed statements of ASX100 companies in FY2022 using the enhanced methodology – MSD 2.0. While there have been commendable advancements in modern slavery reporting, the year saw a setback in a small segment of ASX100 companies.
View the ASX100 FY2022 Ratings Updates
Project 5
Modern Slavery Disclosure Quality Ratings: ASX100 Companies Update 2024
This research brief presents the fourth year of Monash’s Modern Slavery Research program, in which we assessed statements of ASX100 companies in FY2023 using the enhanced methodology – MSD 2.0. This year's report introduces three new features of the report: Bookmarks and Ideas to share examples of good practices and Deep Dive sections on relevant issues of interest.
View the ASX100 FY2023 Ratings Updates
Project 6
Modern Slavery Disclosure Quality Ratings: ASX100 Companies Update 2025
This research brief continues the fifth year of Monash’s Modern Slavery Research program, in which we assessed statements of ASX100 companies in FY2024. This year's report also includes an analysis of the five-year reporting journey of ASX100 companies.
View the ASX100 FY2024 Ratings Updates
Project 7
Adoption of international standards in modern slavery statements
Through a partnership with the Australian Anti-Slavery Commission, this project examines references to the UNGPs and OECD standards in modern slavery statements, and assesses, based on their disclosures, whether companies are adopting these international standards in their due diligence. These insights will help the OAASC promote industry best practices and strengthen Australia's modern slavery legislation.
Research Impact Study
In early 2024, MCFS conducted a research impact study for the modern slavery research program. We interviewed representatives from seven companies who have an in-depth understanding of their modern slavery action plans and reporting processes and three institutional investors who are familiar with MCFS's modern slavery research reports. To understand our research impact, please take a look at the following research impact reports.