Members of New Zealand’s private sector – comprising institutional investors and Kiwi businesses with combined assets of over NZ$215 billion – have called for immediate legislative action on modern slavery in a new statement released by the Responsible Investment Association Australasia (RIAA).
The 28 signatories – which include Westpac, ANZ New Zealand Investments, AMP Wealth Management and the Future Group – said New Zealand stands at a “tipping point” when it comes to introducing legislation aimed at driving transparent and ethical supply chains.
Urging the New Zealand Government to take “urgent action”, the group claims New Zealand is increasingly out of alignment with its international peers – such as the UK, Canada and Australia – which is allowing modern slavery to erode long-term business value.
It suggests the Modern Slavery Bills, proposed by both the National and Labour parties, are an “appropriately balanced next step” for New Zealand to take.
“The Bills provide a comprehensive, balanced and pragmatic approach, strengthening Aotearoa New Zealand’s legislative framework to ensure the robust response these issues require whilst providing compatibility with existing regimes. It allows local companies to meet international expectations while remaining relevant to our domestic context,” said the RIAA.
“The Bills both require businesses to report annually on modern slavery risks, and will provide a consistent standard, reduce compliance uncertainty and protect companies committed to ethical practices from being undercut.
“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.”
Earlier this year, the RIAA and the Investors Against Slavery and Trafficking Asia Pacific (IAST APAC) warned that New Zealand could become a “dumping ground” for unethical products.
According to the two organisations, New Zealand imported an estimated $7.9 billion of risky goods in 2022 that were associated with child and forced labour, representing 10 percent of total imports that year. This equates to an average household spend of about $77 each week on such goods.
Back in July, New Zealand’s Labour Party revealed it had drafted new modern slavery legislation, criticising the current government for failing to follow through on its promises to tackle modern slavery.
MP Camilla Belich lodged a Private Members Bill, the Modern Slavery Act 2025, which seeks to address modern slavery in supply chains and restart a process that has stalled.
A similar Private Members Bill from National MP Greg Fleming is also currently in the parliamentary ballot, which would require businesses to report on modern slavery risks in their operations and supply chains.
World Vision’s Head of Advocacy and Justice, Rebekah Armstrong, says there are aspects of both bills that are very similar, which shows that MPs from both sides of the house want legislative change to combat forced labour, worker exploitation, child labour and trafficking.
“We’re thrilled to see support from both National and Labour for robust modern slavery legislation, but we can’t understand why they won’t work together to legislate on an issue they both fundamentally agree on,” she said.
“We want to see our politicians doing the right thing, rather than scoring political points. We want to see them come together to actually pass a Modern Slavery Act, not just talk about it! This could be the reality if National and Labour agreed to both back the same bill.”
