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Bangladesh: Investor Statement in Support of the Continued Functioning of the Accord to Ensure Bangladesh Factories are Safe for Garment Workers

Author: Interfaith Center on Corporate Responsibility (ICCR), Published on: 31 August 2018

"Investor Statement in Support of the Continued Functioning of the Accord to Ensure Bangladesh Factories are Safe for Garment Workers" 29 August 2018

…[T]he Bangladesh Accord for Fire and Building Safety (Accord)…stakeholders agree that the safety goals have not yet been fully achieved…. In spite of this, the High Court of the Supreme Court of Bangladesh ruled…that the Accord’s approval to operate will expire at the end of November 2018. 

…[I]nvestors are concerned that the precipitous termination of the Accord would be too costly for worker health and safety and to brands and their investors that depend upon a secure, safe workforce….

…The undersigned investors:

1. Urge the government of Bangladesh to make a re-submission to the High Court...to prevent the...shutdown of the Accord's operations....
2. Support the brands' expressed position at the EU Sustainability Compact meeting...that it is crucial that the work of Accord...and that a premature shut down of the Accord would jeopardize the brands' ability to source from a safe industry. (See statement: http://bangladeshaccord.org/wp-content/uploads/Accord-Statement.pdf)
3. Support the brands' responsibility to respect human rights based on the UNGPs and to apply the 'human rights due diligence' process....
4. Urge the Accord signatories to communicate to suppliers, the BGMEA and the government of Bangladesh their full support of the Accord as a prerequisite for the continued improvement of worker health and safety and expression of responsible sourcing practices. 

Download the full document here