Investors Are Urging Nike to Sign the Pakistan Accord
Breaking News Lead for Immediate Release
(New York, N.Y.) - Investors are demanding that Nike sign the Pakistan Accord just as they have for Vietnam, Cambodia, Indonesia and Bangladesh. This request comes after claims that Nike is one of several brands profiting off of Pakistani factories that exploit workers. The Accord, a legally binding agreement, requires signatories to follow strict labor and health standards. Only one complaint has been filed against the Accord in its 10 years.
History and Context
First established in 2013, the Pakistan Accord is an agreement between global brands and trade unions. The Accord ensures that brands will pay for safety improvements, allow independent inspections of factories, and empower workers to discuss workplace issues. By signing the Accord, Nike would be committing to: - Injury and illness prevention - Training and education - Emergency preparedness - Structural improvements - Fair wages
Details of Investor Request
According to the investors' letter, "Nike's failure to sign the Accord is a clear indication that the company is not committed to protecting the rights of workers in its supply chain." The investors also argue that Nike's refusal to sign the Accord is a violation of its own Code of Conduct, which states that the company is committed to "respecting the rights of workers."
Nike's Response
Nike has not yet publicly responded to the investors' request. However, the company has a history of being criticized for its labor practices. In 2017, Nike was accused of using child labor in its factories in Pakistan. The company has also been criticized for its low wages and poor working conditions in its factories in other countries.
Conclusion
It is important for people everywhere to support the Pakistan Accord. This is an especially important issue for the sake of human rights and worker safety. Investors are using their power to make a difference; perhaps this will inspire others to do the same.
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