A modern slavery reporting regime on the horizon

Last week, the Modern Slavery Bill had its first reading in Parliament, bringing New Zealand a step closer to a formal modern slavery reporting regime. Property Council New Zealand supports the introduction of modern slavery legislation as it is critical that New Zealand entities do their part to help reduce modern slavery and exploitation.

The Bill would require organisations with consolidated revenue of $100 million or more to publish an annual modern slavery statement about how they identify, address, mitigate and remediate modern slavery risks and incidents in their operations and supply chains. Statements must also be publicly available online and on a public register. 

If passed, this regime would bring New Zealand into closer alignment with modern slavery reporting requirements in places like the UK and Australia. It is thought the Bill will pass before the election this year.

There are currently no confirmed dates for public consultation. However, Property Council intends to make a submission once consultation opens. We will be establishing a new Advocacy Taskforce to gather members’ views, test key issues, and incorporate that feedback into our submission. 

If you’re interested in joining the Taskforce, please get in touch with Sandamali.