abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfiltergenderglobegroupshealthC4067174-3DD9-4B9E-AD64-284FDAAE6338@1xinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapeline, chart, up, arrow, graphLinkedInlocationmap-pinminusnewsorganisationotheroverviewpluspreviewArtboard 185profilerefreshIconnewssearchsecurityPathStock downStock steadyStock uptagticktooltiptwitteruniversalityweb
Article

20 May 2013

Author:
Adam Brown, Inside Investor Relations

Investor coalition calls for crackdown on supply chain abuse

A coalition of investors with more than $1.4 tn in assets under management is calling for a global crackdown on supply-chain abuse...after a series of deadly accidents at Bangladeshi factories...The coalition...has issued a joint statement – the Bangladesh Safety Pact – calling for ‘systemic reforms that will ensure worker safety and welfare, and to adopt zero-tolerance policies on global supply-chain abuses.’ The statement...follows a series of disasters...including the May 8 collapse of a sweater factory that killed at least 1,127 workers...and another fire on May 8 that killed several workers at the Tung Hai sweater factory...[The] investors are calling on companies to commit to strengthening local trade unions, publicly disclose the identities of all of their suppliers... [and] ensure a living wage for workers...A number of high-profile firms in the US have notably failed to sign up to the Bangladesh Safety Pact... [refers to Marks & Spencer, Inditex and H&M]