FFC Calls For Reform In Global Apparel Supply Chains

FFC has joined with other ICCR investors representing over $1 trillion in assets in urging industry leaders to implement systemic reforms to ensure worker safety and welfare.  Further we are asking companies to adopt zero tolerance policies on global supply chain abuses.  The recent calamities in Bangladesh apparel manufacturing factories underscore the critical need for reform.  Current models incentivize lax regulations and oversight in order to readily supply North America and Europe with inexpensive goods.  This can lead some factories to disregard fundamental human rights of workers, including health, safety, and right to collective bargaining.  As investors we are asking retailers to implement the internationally recognized labor standards of the International Labor Organization.  The ICCR press release was featured in a New York Times story today.