The super fund joins 190 global shareholders in signing the statement which calls for retailers to implement minimum labour standards from the International Labor Organization.
“We support the action being taken by brands and retailers to help improve worker safety and welfare,” LGS chief executive Peter Lambert said.
“In signing the Investor Statement on Bangladesh, Local Government Super is taking a first – but important – step to support change for the better from an investment perspective.”
“The statement includes a pledge to engage with relevant companies to highlight the investment risks associated with perpetuating the unsafe working standards that are all too prevalent in emerging markets.”
The statement asks companies to commit to strengthening local trade unions to ensure a fair wage for workers and to publicly disclose all suppliers and the programs in place to ensure worker health and safety.
It asks to ensure there are appropriate governance mechanisms for affected workers and that companies join the Accord on Fire and Building Safety.
The pledge comes after a series of high profile accidents in Bangladesh garment factories including the collapse of Rana Plaza in April and a second fire in Dhaka in May this year.
