Modern Slavery Act Transparency Statement

Macquarie supports fundamental human rights as set out in the Universal Declaration of Human Rights and core International Labour Organisation conventions. In line with the UN Guiding Principles on Business and Human Rights, we recognise the duty of states to protect human rights as well as the fundamental responsibility of businesses to respect human rights.

Macquarie is committed to identifying and mitigating the risk of modern slavery and human trafficking occurring within our business operations and supply chain.

Annually, Macquarie reports under the UK Modern Slavery Act 2015 and Australian Modern Slavery Act 2018 (Cth). Our 2022 Statement is our seventh Statement under the UK Modern Slavery Act 2015 and third Statement under the Australian Modern Slavery Act 2018 (Cth). Since 2020, Macquarie has prepared a joint Statement.

Spotlights

Supplier assurance program

Since 2018, Macquarie has been implementing an Environmental and Social Risk (ESR) based assurance program which involves in-depth onsite assessments with certain direct suppliers in high-risk jurisdictions and high-risk industries to test alignment with Macquarie’s Principles for Suppliers.

We are committed to working with our suppliers to remediate any non-conformances through time bound corrective action plans, and to ensure success through follow up audits as necessary. Please refer to our Modern Slavery Transparency Statements and our Supplier Portal for more detail.

Human rights e-learning module

In collaboration with an expert third-party human rights consultant, Macquarie has developed and deployed a human rights (including modern slavery) e-learning module to targeted groups with senior responsibility for deals or procurement across Operating and Central Service Groups globally. The training was first rolled out in FY21 and a refreshed module was deployed in FY22. 

The training aimed to help staff identify, mitigate and escalate negative human rights (including modern slavery) impacts from clients, investments and suppliers.

The training presented four key indicators that elevate the risk of human rights (including modern slavery) breaches:

• Vulnerable populations:
  Vulnerable populations include people whose personal characteristics or circumstances may lead them to be more susceptible to harm. For example, children, migrant workers and base-skill workers.

• High-risk business models:
  High-risk business models tend to include models with little visibility over labour, opaque entity structures or fronting, subcontracting arrangements, or where significant parts of labour needs are outsourced. For example, complex supply chains or businesses significantly relying on labour hire and outsourcing.

• High-risk sectors:
  Some specific goods or services are inherently riskier because of the nature of the sector or value chains (for example, construction, facilities management, hospitality, and IT hardware).

• High-risk geographies:
  High-risk geographies may include countries or areas with a weak rule of law, conflict, corruption, remote locations or where there are large displaced or migrant populations.