JustShare, the coalition of City of London churches and development agencies working to highlight issues of global economic justice, is to call on London's financial institutions to use their considerable power to fight modern-day slavery.

The coalition hopes to use the anniversary of the day the Act abolishing the slave trade came into force, to highlight the trade's historical legacy and ask financial institutions in the City of London to assist in the abolition of modern-day slavery.

"The finances of the City of London were undoubtedly enriched through the slave trade, yet the City was also instrumental in advancing the 18th & 19th century abolition movements," a statement released by the coalition said.

On May Day 2007, outside the Royal Exchange in the heart of the City of London, JustShare will urge the City and its institutions to exercise their power today, and thereby play a key role in ending contemporary forms of slavery in the current global market.

Joining JustShare in this call to action will be Clare Short MP and Rev Joel Edwards, General Director of the Evangelical Alliance, who, at 1pm, will give addresses highlighting the effects of modern slavery on society.

Clare Short MP, the former Secretary of State for International Development, said: "Across the world there are millions involved in child and bonded labour and who refuse the right of workers to organise. This is the modern day slavery.

"As investment globalises, there is a duty on all players to clean up their supply chains. The power and reach of the City of London could help eliminate the worst forms of child and bonded labour."