Calvert News & Commentary

One Year After the Tragedy at Rana Plaza

Investors Call on Brands to Continue Addressing Supply Chain Risks and Provide More Financial Support for Rana Plaza Victims

4/24/2014

Since the tragedy at Rana Plaza a year ago today1, Calvert has worked closely and consistently with a number of key investor partners under the leadership of the Interfaith Center for Corporate Responsibility (ICCR), and pressed companies to take bold steps to improve supply chain management and accountability. We have been encouraged by a number of developments, including the formation of the Bangladesh Accord on Fire and Building Safety, a multi-stakeholder initiative including trade unions, apparel brands and retailers, as well as the adoption of common inspection standards by the Accord and the Alliance for Worker Safety, an initiative led by North American retailers and brands.  Yet despite this progress, financial support for victims of Rana Plaza is lagging – less than half of the Rana Plaza Trust Fund goal has been met.  We call on brands to make a financial contribution to the Fund and to implement human rights due diligence in Bangladesh and other countries in their global supply chain, consistent with the UN Guiding Principles on Business and Human Rights.

Read the Investor Statement here.

1On April 24, 2013, over 1,000 people died and approximately 2,515 were injured when the Rana Plaza factory collapsed in Bangladesh. This event is considered the worst garment-factory accident in history.



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