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ICCR publishes investor statement on Tenth Anniversary of Rana Plaza Tragedy

On April 20th, ICCR released an Investor Statement on the 10th Anniversary of the Rana Plaza. On April 24, 2023, the Rana Plaza building collapse killed 1,138 garment workers and injured another 2,500, an avoidable tragedy that exposed the human rights risks of outsourcing apparel manufacturing to factories with inadequate safeguards to protect workers.

The Investor Statement is signed by 192 investors with total aggregate assets under management of $1.38 trillion. Since 2013, investors have recognized the importance of the Accord on Fire and Building Safety and have urged companies in their portfolios to join.

Investors and their representatives who are signatories, ask companies in their portfolios to commit to safeguarding the health and safety of workers in Bangladesh, Pakistan, and throughout global supply chains by doing the following:

  1. Accelerate and strengthen the implementation of human rights due diligence as defined by the UN Guiding Principles on Business and Human Rights with increased attention given to remedy, in their operations and value chains as part of their ‘corporate responsibility to respect human rights.’
  2. If your company sources from suppliers in Bangladesh or plans to do so in the near future, sign the International Accord, covering the workplace safety program in Bangladesh.
  3. If your company sources from Pakistan or plans to do so in the near future, sign the Pakistan Accord. There are approximately 110 companies that have signed on to the International Accord that source from suppliers in Pakistan. To date, 46 of the largest Accord brands have become signatories to the Pakistan Accord, and we urge all others to follow their example.
  4. Join the Employment Injury Scheme (EIS) Pilot in the garment sector of Bangladesh, an innovative tripartite initiative that involves the ILO, government, brands, trade unions, and employers, in creating a social protection scheme that includes compensation for medical treatment and rehabilitation services, as well as income loss caused by occupational injuries and disease.

Read the Press Release which includes a link to the Investor Statement here.

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