Investor Statement Addressing Forced Labor in Supply Chains
Forced labor is ubiquitous in today’s complex and opaque supply chains. The International Labour Organization (ILO) estimates that 24.9 million people around the world are in situations of forced labor, generating $150 billion in illegal profits in the private economy. Vulnerable groups such as migrant workers are particularly affected.
As investors, we promote responsible business conduct as outlined in the OECD guidelines and support the United Nations’ Sustainable Development Goal 8.7 to eradicate forced labor.
KnowTheChain and the Investor Alliance have developed and led investor sign-on to this statement (updated October 2019), defining investor commitments and expectations towards investee companies. The statement is a critical tool for investors in direct engagements with companies on the issue of forced labor in supply chains.
Sign-on to the letter is open to all investors on an ongoing basis. To sign on, click here.