Slavery and Human Trafficking Statement 2021

Business Principles

Modern slavery and human trafficking are grave forms of human rights abuse.  The board of NESF supports the prevention of modern slavery and human trafficking throughout the supply chain.  NESF remains committed to maintaining the highest possible standards of ethical behaviour and expects the same of all its stakeholders.

The majority of services supplied to or on behalf of NESF are managed by NextEnergy Capital Group (“NEC Group”), NESF’s investment manager.  NextEnergy Capital Group approaches the subject of human rights abuse with the utmost importance and is committed to preventing modern slavery in all activities and those related to its business relationships, including its supply chain.

The Group’s commitment to respect human rights is guided by the United Nation Declaration of Human Rights and recognise the OECD Guidelines on Multinational Enterprise and the UN Guiding Principles of Business and Human Rights as the frameworks through which to identify and manage human rights’ risks associated with our operations, our supply chain, and throughout our business relationships.  This is reflected in both NEC Groups Sustainable Investment Policy and Human Rights Position Statement.

The use of slavery and human trafficking is completely unacceptable and entirely incompatible with both NESF ethics as a listed renewable investment company, and NEC Group, as the investment manager.

Monitoring Risk

NESF benefits from NEC Groups ESG team, who have established an Environmental, Social and Governance (ESG) framework, which includes our policy commitments, a rigorous due diligence process, and a transparent reporting and stakeholder engagement process.  The due diligence process is extended to the supply chain, including modules and inverter manufacturers which have to respond to a specific ESG questionnaire that assesses their human rights and labour policies and practices, and their overall approach to human rights and sustainable development.

We continue to maintain a strong stakeholder engagement with our business partners, investors, NGOs, industry association, and human rights experts to address these issues collectively aiming to contribute to positive outcomes.

Ongoing Commitment

NESF recognises that modern slavery and human trafficking risks require constant commitment and vigilance.  NEC Group will continue to identify opportunities to further reduce the risk of human trafficking and modern slavery, increase transparency in NESF operations and supply chain and respond effectively to new risks as they are identified.

-This statement has been approved by the NESF Board-