SVI signs a statement urging Bangladesh government not to abandon the “Accord for Fire and Building Safety”

Some 250 institutional investors, with over $4 trillion in assets under management, welcomed the formation of the Accord on Fire and Building Safety in Bangladesh (Accord) in May 2013, established to address workplace safety in Bangladesh garment factories following the deaths of 1,134 workers in the Rana Plaza building collapse. The dialogue has been conducted under the lead of Interfaith Centre for Corporate Responsibility (ICCR) at the aftermath of the accident.

On the 6th anniversary of the Rana Plaza building collapse as of April 2019, global investors are concerned that the Accord’s future is in doubt, jeopardizing the safety of garment workers.

So, the Bangladesh Investor Initiative, a group of 190 global investors representing over $US 3 trillion in assets under management, and among which Sustainable Value Investors, released a statement calling on the government of Bangladesh and the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) to negotiate an agreement allowing the Accord for Fire and Building Safety in Bangladesh to continue its work in the garment sector. The Accord’s record of identifying and remediating safety issues assures global brands and their investors that risks to workers and brand reputation are being mitigated.

You can download and read the Letter signed by SVI and other 189 investors,

For further content, read ICCR’s Press Release at the following link: