Investors back new investor expectations document on child labour in cocoa industry
10 October 2017
Leading asset owners and fund managers are backing a new investor expectations document on child labour in the cocoa industry. (…) Sixty institutional investors, coordinated by ESG engagement firm GES, are “strongly” encouraging the cocoa industry to look at its practices in the west African countries Côte d’Ivoire and Ghana. The region produces around 70% of the world’s cocoa and has an estimated 2m child labourers working in the industry.
The expectations – which are also laid out in GES’ recent report Combatting Child Labour in Cocoa, Investor Expectations and Corporate Good Practice – are “formulated with the aim to both identify and remediate in a sustainable manner cases of child labour as well as address poverty, the underlying root cause of child labour in the cocoa industry”.
Signatories to the statement of support include: APG, Actiam, AustralianSuper, Christian Super, AP1, AP2, AP3, AP4, Church of Sweden, Macif Group, Ohman, PBU, and Mercy Investment Services.