NAPF says prawn-fishing scandal highlights risk of investing in business without full knowledge of supply chain
A Guardian investigation into slave labour used in the production of seafood sold to UK supermarkets has prompted the £900bn National Association of Pension Funds to call on pension schemes to demand more information about the risks lurking in companies' global supply chains. On Friday NAPF will recommend that its members question companies and City fund managers about the use of cheap labour, inhumane working conditions and other abuses in the production of goods sold by UK, US and European companies.
Paul Lee, NAPF's head of investment affairs, said the Guardian's investigation had exposed how companies can be damaged by hidden problems in their supply networks. He said investors were already concerned about treatment of workers and other ethical matters after the collapse of the Rana Plaza garment factory in Bangladesh last year and the use of "conflict minerals" from Africa in electronic wares.
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