Labour standards in the supply chain
In the last ten months, over 1,300 workers have lost their lives in Bangladesh factory accidents that could have been avoided had the proper safety measures been in place, calling into question the need for all stakeholders, including the Bangladesh government, companies and investors, to take timely and comprehensive measures to protect the safety and lives of garment workers. Canadian and US investors are deeply concerned about the systemic risks to companies sourcing products in Bangladesh and other low-cost countries.
Engagements by both Canadian and US investors respectively, reflects investor concern over the need for effective measures to create safe working conditions in the Bangladesh apparel industry, and draws attention to the importance of disclosure by retailers, brands and manufacturers. It also highlights opportunities presented by growing industry support for the Accord on Fire and Building Safety in Bangladesh, which companies have been urged to join through separate investor statements which have been released.