Background
ESG is at the forefront of minds today as institutions and corporates alike grapple with increasing regulations, greenwashing risks and stakeholder appetite for ESG.
To rise to the challenge, companies are seeking quality data across the spectrum of ESG factors. High on the list of QIC’s priorities is addressing modern slavery risks.
Given our diverse asset classes and global reach, and the pervasiveness of this issue, QIC looked for a solution that provides visibility of risk both across regions and deep within our supply chains.
Implementation
Since 2020, when QIC became an early customer of Fair Supply, we have engaged Fair Supply as an ESG data provider and professional services firm.
This engagement includes regular and ongoing risk assessment of our supply chains and investment portfolios, evaluated at an industry-category level to the tenth tier of supply.
As part of its maturing modern slavery response, QIC Group is increasingly conscious of deploying policy into real-world practice. Commitments to addressing modern slavery will only be impactful if they are actually implemented in practical ways.
Fair Supply has provided expertise as we continue to improve of our risk mitigation, monitoring and reporting capabilities, and internal governance with respect to Modern Slavery.
Results
In 2022, this confidence in Fair Supply translated into an investment decision when QIC became an early investor in Fair Supply through the QIC-managed Business Investment Fund (BIF).
Our Private Equity team recognised Fair Supply’s ability to assist clients in accessing comprehensive supply chain data and visibility of modern slavery in the supply chain, Scope 3 carbon emissions, biodiversity and water use risk.
Fair Supply’s success story is only in its infancy and we look forward to seeing them continue to go from strength to strength.