Market Tracker Trend Report—Modern slavery in annual reporting 2022

Download a PDF copy of the report here.

Our latest Market Tracker trend report reviews modern slavery reporting in annual reports published in 2022. Market Tracker has conducted a detailed review of 277 FTSE 350 annual reports, which were reviewed in relation to four areas:

• purpose, culture and strategy
• principal risks and uncertainties
• statements under the Modern Slavery Act 2015, s 54
• statements under the Companies Act 2006, s 172 

Topics covered include:

• introduction to modern slavery
• corporate modern slavery expectations
• analysis of modern slavery reporting in annual reports published in 2022

Key findings:

• 96% of FTSE 350 companies mentioned modern slavery in the annual report
• 32% of FTSE 350 companies referred to modern slavery when discussing the purpose, culture or strategy of the company
• 34% of FTSE 350 companies discussed modern slavery in the context of principal risks facing the business
• 26% of FTSE 350 companies provided a direct link to the Modern Slavery Act 2015, s 54 statement on the company website
• 2% of FTSE 350 companies considered modern slavery to comprise part of the director’s duty to promote the success of the company for the benefit of its members under the Companies Act 2006, s 172

This Market Tracker Trend Report has been produced by analyst Laura Roberts, in collaboration with LexisNexis solicitors Ed Davies and Catherine Innes. The report also features comment from industry-leading experts Oliver Holland, partner at Leigh Day, Katherine Tyler, legal director at Kingsley Napley, Justine Carter, director of Unseen, and Anti-Slavery International.