First compulsory disclosure on human rights
Deutsche Bank has published its first Slavery and Human Trafficking Statement detailing the steps it has taken in the past year to address slavery and human trafficking risks in its own business and supply chains or in its client activities.
By making its statement, Deutsche Bank is complying with the UK Modern Slavery Act, which the United Kingdom passed in 2015 to combat slavery, servitude, forced or compulsory labour and human trafficking, and to protect its victims.
Deutsche Bank is committed to the respect of human rights not only for its employees but also elsewhere. A number of countries are now broadening the scope of their legislation. Generally speaking, the UK Modern Slavery Act applies to all commercial organizations that are carrying on a business in the United Kingdom with a worldwide annual turnover in excess of 36 million British pounds.
This means that Deutsche Bank now has a statutory duty to report annually on its activities to combat slavery and human trafficking. Deutsche Bank has decided to report its Group activities instead of referring only to its UK business operations. This also means that we will continually develop our guidelines and processes to comply with statutory requirements and society’s demands regarding human rights.