Skandia's response to the Fair Action report “Broke in Bangladesh”
In short Skandia would like to high light that Skandia have both policies and processes in place to manage sustainability risks and opportunities when analyzing companies in its investment universe. Skandia does also have several “position papers” where, among several issues, Human Rights and Labour Rights are addressed.
The issue of fair living wages is complex since the fashion brands are not able to fully manage how wages are agreed or the increase of living costs in the society where the workers in the garment sector lives. However, Skandia do recognize that living wages is an important issue to address and the conclusions in this report is taken into consideration.
During the year Skandia has addressed conditions in the supply chain in the garment industry, the focus has been gender based harassments but also the issue of living wage has been addressed. H&M is one of the companies Skandia has addressed. This thematic engagement will soon be presented in Skandia’s Engagement Report for 2018.