The “Liechtenstein Initiative” - a public-private partnership between the Governments of Liechtenstein, Australia and the Netherlands, as well as Liechtenstein private sector actors and foundations - puts the financial sector at the heart of global efforts to end modern slavery and human trafficking, in line with the 2030 Agenda. In a first phase, its Financial Sector Commission (FSC) has worked on a blueprint for the global financial sector to accelerate engagement to tackle these crimes. The “Blueprint for Mobilizing Finance Against Slavery and Trafficking” will be launched on 27th September and aims at helping relevant financial sector actors, including banks, pension funds, insurers, fintech, regulators and more, to take action against modern slavery and human trafficking. It sets out five ambitious goals which these actors can implement through individual and collective action. In the second phase of the “Liechtenstein Initiative for Finance Against Slavery and Trafficking” (FAST) will provide guidance and support to implement the goals and actions set forth by the Blueprint. It will review the implementation and bring together a “network of networks” which will deal with different dimensions of implementation to exchange progress made, lessons learned and challenges. The stories of change, and the insights they reveal, will then inform the design and delivery of a FAST Review Conference, to be held in 2021, in Liechtenstein
The Financial Commission’s Blueprint is expected to impact the improvement of the following five goals:
1. Compliance with laws against modern slavery and human trafficking.
2. Knowing and showing modern slavery and human trafficking risks.
3. Using leverage creatively to mitigate and address modern slavery and human trafficking risks.
4. Providing and enabling effective remedy for modern slavery and human trafficking harms.
5. Investment in innovation for prevention.