Home / Knowledge / News / Apparel/Garments / 33% of 1078 brands get zero on reporting social compliance
33% of 1078 brands get zero on reporting social compliance
03
Apr '12
Adidas, Nestlé and Air France-KLM were among 39 companies in a survey of 1,078 companies that received top marks for reporting on social or environmental risks in 2011. More than a third of the companies in the annual evaluation by Norges Bank Investment Management (NBIM), manager of the Norwegian Government Pension Fund Global, scored zero.

“Failure to manage social and environmental risks may over time hurt company profits and the fund's investments,” says Anne Kvam, NBIM's global head of ownership policy. “We've identified three areas of particular concern that companies need to address – children's rights, climate change and water scarcity. While our findings show a slight improvement in how businesses reported on risks in these areas in 2011 compared with 2010, the overall level of reporting is still far too low.”

NBIM has published documents outlining how the companies we invest in should manage risks related to children's rights, climate change and water scarcity in their operations and supply chains. We annually evaluate the extent to which businesses in industries with high exposure to these risks meet our expectations. Our assessments are based on the companies' public reporting on these issues. NBIM published reports showing the findings for 2011.

Walt Disney, PVH, Intel, Hennes & Mauritz, Motorola Mobility, Gildan Activewear, Xstrata, Ericsson and Anglo American were among 14 companies to get top marks for their reporting on the risks of child labour use and children's rights violations in 2011. Adidas, Gap, Next, Bayer and BHP Billiton were new on the list of companies with top scores. Of the 452 companies assessed for their reporting in this area, 41 percent got zero points, compared with 44 percent the year before, when NBIM first disclosed the names of the best performers in this category.

“Child labour that prevents children from getting an education or otherwise harms their rights holds back sustainable development,” says Kvam. “Another concern for a long-term investor like NBIM is the risk to businesses from climate change and increasingly scarce water resources.”

Air France-KLM, Air Products & Chemicals, BASF and Constellation Energy Group were among 11 companies to get top scores for reporting on risks related to climate change in 2011. The other best performers were E.ON, Hera, Iberdrola, Lafarge, Linde, Xcel Energy and Anglo American. A total of 17 percent of the 453 companies evaluated in this category got zero points.

Nestlé, Anglo American, Anheuser-Busch InBev and Danone were among 14 companies with the highest marks for reporting on water-related risks in 2011. GlaxoSmithKline, Kellogg, Kirin Holdings, Merck & Co, Molson Coors Brewing, PepsiCo, Pfizer, PG&E, SABMiller and Sanofi were also top performers. A total of 32 percent of the 447 companies assessed in this area scored zero.

“The companies with top marks have set high standards and we hope to encourage other businesses to follow suit by naming them,” says Kvam.

Norges Bank Investment Management (NBIM)


Must ReadView All

India's garment exports up 24.93% in September 2017

Textiles | On 16th Oct 2017

India's garment exports up 24.93% in September 2017

The exports of readymade garments from India in September 2017 was...

Low GST rate on zari will generate jobs for women: SRTEPC

Textiles | On 16th Oct 2017

Low GST rate on zari will generate jobs for women: SRTEPC

There will be a rise in the employment for women with the slash in...

Consumers may suffer if no assurance to EU workers in UK

Apparel/Garments | On 16th Oct 2017

Consumers may suffer if no assurance to EU workers in UK

Consumers may suffer if the British Government does not quickly offer ...

Interviews View All

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
76.9%
No
13.8%
Skip
9.2%

Total Votes: 65

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
27.7%
Skip
10.8%

Total Votes: 65

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.6%
No
10.8%
Skip
4.6%

Total Votes: 65

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
73.8%
No
12.3%
Skip
13.8%

Total Votes: 65


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search