Refers to due diligence to their investees but unclear if any of this is done prior to investment. See below:
As part of our ongoing initiative to identify and mitigate modern
slavery risk in our holding companies we perform the following steps:
— We instruct an external provider to perform a regular review of
entities we invest in under the 10 principles as outlined by the
UN Global Compact and related standards including the
(Organisation for Economic Co-operation and Development
(OECD) Guidelines for Multinational Enterprises and the UN
Guiding Principles on Business and Human Rights), as well
as their underlying conventions. This is an effective tool to
keep abreast of developments or issues in a timely manner.
— We engage directly with Investee Entities with material
challenges in this area and address concerns as part of
the decision-making process. Ongoing oversight and
engagement with Investee Entities is also undertaken
throughout our relationship with the firm as part of our
stewardship work. (p.5)