Private sector pushes for NZ modern slavery law

Responsible Investment Association Australasia (RIAA), AMP Wealth Management New Zealand, Ausbil, Future Group, Metrics Credit Partners, U Ethical Investors and Westpac are part of the private sector 32 signatories who have signed to support the introduction of laws to address modern slavery in New Zealand.

New Zealand's bipartisan Modern Slavery Bill passed its first reading in April 2026 and is currently under review by the Education and Workforce Select Committee.

The signatories noted New Zealand's key trading partners including the UK, Canada and Australia already have modern slavery laws in place while several others have adopted or are considering forced labour import bans.

"Failure to introduce appropriate modern slavery legislation carries significant risk. As our trading partners tighten their due diligence and enforce import bans on goods made with forced labour, Aotearoa New Zealand risks damaging international business relations and emerging as a soft entry point for risky goods," the signatories said.

"Appropriate legislation provides the clarity and consistency needed to support this work, creating a level playing field to ensure all businesses are required to meet these standards."

The 32 signatories represent institutional investors and New Zealand businesses accounting for more than NZ$324 billion ($268bn).

"The undersigned, representing a strong cross section of the private sector, support a legislative response to modern slavery. We urge political collaboration to ensure passage of new laws without undue delay and look forward to supporting the progression and implementation of this regime," the signatories said.

Australian Human Rights Institute director Justine Nolan recently said while the current Australian Modern Slavery Act raises awareness in educating people on the problem but falls short in following through and being effective. She noted it is about ticking a box and getting the processes in place rather than being impact or outcome focused.

An assessment by Monash Centre for Financial Studies on Australian reporting standards also found that while more companies are complying with reporting requirements and the quality of compliance is improving, companies continue to have inadequate due diligence, poor supply chain descriptions and modern slavery risks identification.