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PVH top scores in reporting risks of child labour
28 Mar '12
3 min read
PVH Corp. was recognized in Norges Bank Investment Management's 2011 NBIM Children's Rights Disclosure Rating as one of only 14 out of 452 assessed companies to get top marks for managing and reporting on the risks of child labor use and children's rights violations in their operations and supply chains.
NBIM performs an annual assessment of whether companies in their portfolio who are exposed to child labor and children's rights risks are disclosing information in line with the NBIM Investor Expectations on Children's Rights.
These expectations include: preventing the worst forms of child labor, including hazardous working conditions that may physically or mentally damage children; sustaining the minimum age standard; promoting child welfare; and using governance structures to facilitate realistic strategies and responses to the management of child labor and children's rights.
NBIM examines each company's public disclosure of information to determine how the company scored on ten criteria (indicators) for managing child labor and children's rights risks. PVH received a maximum score of 10 in 2011, along with companies such as Walt Disney, Intel, Adidas, and Hennes & Maurtiz. In 2010, PVH was also recognized in the NBIM Children's Disclosure Rating as one out of only 9 companies among a pool of 527 to achieve a maximum score of 10.
Emanuel Chirico, Chairman and Chief Executive Officer of PVH, said "We are honored to be recognized for our efforts in preventing child labor and promoting children's rights and safety. Corporate Social Responsibility is central to our business strategy, and we continue to be committed to furthering children's rights and to responsible, transparent reporting and disclosure.
We commend NBIM for publishing an annual assessment which exposes child labor issues in the global supply chain and promotes accountability. We hope that this recognition, and others like it, will serve as a means to advance children's rights and responsible corporate reporting practices in the apparel industry and among all corporations."
The list of top ranked companies was published on March 26, 2011 and is available on NBIM's webpage, www.nbim.no along with detailed information on NBIM's Investor Expectations on Children's Rights.
Norges Bank Investment Management (NBIM) manages the Norwegian Government Pension Fund Global with assets of approximately USD 550 billion, and is a shareholder in PVH with holdings of approximately 458,000 shares as of December 31 2011.
PVH Corp., one of the world's largest apparel companies, owns and markets the iconic Calvin Klein and Tommy Hilfiger brands worldwide.
NBIM performs an annual assessment of whether companies in their portfolio who are exposed to child labor and children's rights risks are disclosing information in line with the NBIM Investor Expectations on Children's Rights.
These expectations include: preventing the worst forms of child labor, including hazardous working conditions that may physically or mentally damage children; sustaining the minimum age standard; promoting child welfare; and using governance structures to facilitate realistic strategies and responses to the management of child labor and children's rights.
NBIM examines each company's public disclosure of information to determine how the company scored on ten criteria (indicators) for managing child labor and children's rights risks. PVH received a maximum score of 10 in 2011, along with companies such as Walt Disney, Intel, Adidas, and Hennes & Maurtiz. In 2010, PVH was also recognized in the NBIM Children's Disclosure Rating as one out of only 9 companies among a pool of 527 to achieve a maximum score of 10.
Emanuel Chirico, Chairman and Chief Executive Officer of PVH, said "We are honored to be recognized for our efforts in preventing child labor and promoting children's rights and safety. Corporate Social Responsibility is central to our business strategy, and we continue to be committed to furthering children's rights and to responsible, transparent reporting and disclosure.
We commend NBIM for publishing an annual assessment which exposes child labor issues in the global supply chain and promotes accountability. We hope that this recognition, and others like it, will serve as a means to advance children's rights and responsible corporate reporting practices in the apparel industry and among all corporations."
The list of top ranked companies was published on March 26, 2011 and is available on NBIM's webpage, www.nbim.no along with detailed information on NBIM's Investor Expectations on Children's Rights.
Norges Bank Investment Management (NBIM) manages the Norwegian Government Pension Fund Global with assets of approximately USD 550 billion, and is a shareholder in PVH with holdings of approximately 458,000 shares as of December 31 2011.
PVH Corp., one of the world's largest apparel companies, owns and markets the iconic Calvin Klein and Tommy Hilfiger brands worldwide.
PVH Corp
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