Suncorp is committed to human rights and is a signatory to the United Nations Global Compact which commits to supporting and protecting human rights, eliminating all forms
of forced and compulsory labour and the effective abolition of child labour. We supports the Australian Government’s introduction of the Modern Slavery Act 2018 (Cth), in response to the risk of slavery-like working conditions in the operations and supply chains of Australian companies.
Suncorp’s Responsible Banking and Insurance Policy, Responsible Investment Policy, Code of Conduct and Supplier Code of Practice help us operationalise our human rights commitments.
Suncorp proactively responds to the Modern Slavery Act 2018 (Cth), by identifying and managing the direct and indirect risk of human rights abuses, such as modern slavery and child labour, throughout our value chain. This includes our people, our customers, suppliers and their workforces, as well as monitoring financial transactions and reporting any suspicions of criminal activity associated with them.
In 2019–20, Suncorp commenced the inclusion of modern slavery risks and controls into existing systems and processes with initial focus on procurement, outsourcing and investments. We engaged human rights specialists to lead modern slavery training for key teams across our business to drive awareness about the issue and legislation, and build capability in identifying, managing, mitigating and reporting risks of modern slavery. We also participated in the development of the ABA’s Modern Slavery guidance for member banks. Suncorp has developed processes to identify and improve how we operate and partner to reduce instances of modern slavery. Suncorp is establishing modern slavery contract clauses in all new supplier agreements, including a requirement for key suppliers to complete annual statements of exposure and risk management.
Suncorp will publish a Modern Slavery Statement in 2020–21 and report on how we are identifying and addressing the risks of modern slavery in our operations and supply chain, across Australia and New Zealand.