Legal accountability and full multi-stakeholder participation, including trade union role in governance structure, cited as critical elements lacking in plan versus Bangladesh Accord on Fire and Building Safety.
NEW YORK, NY – Upon initial review, members of the Interfaith Center on Corporate Responsibility (ICCR) and long-term shareholders in apparel brands and retailers found the new initiative put forward this morning by the Alliance for Bangladesh Worker Safety lacking in sufficient worker protections and accountability mechanisms. ICCR members, including Boston Common Asset Management, Calvert Investments, Domini Social Investments LLC, the Missionary Oblates of Mary Immaculate and Trillium Asset Management, LLC, who have been engaging major apparel brands and retailers on worker rights and supply chain risk for over 15 years, view the new plan as a weaker alternative to the pre-existing Bangladesh Accord on Fire and Building Safety (the Accord).
Boston Common Asset Management has been one of the lead investors in a global investor coalition with over 200 investors and $3 trillion in assets coordinating a systemic approach to supply chain risks in the aftermath of 1,500 Bangladesh factory workers deaths since December 2012.
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Lauren Compere, Managing Director
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About Boston Common Asset Management
Boston Common Asset Management, LLC is an investment manager and a leader in global sustainability initiatives, specializing in long-only International equity, US equity, and US balanced strategies. Boston Common seeks sustainable, long-term capital appreciation by investing in diversified portfolios of what it believes are high-quality companies through rigorous analysis of financial, and environmental, social and governance (ESG) factors. As shareowners, Boston Common urges companies to improve transparency, accountability, and attention to ESG issues.