Visuel d'illustration pour <span>ERAFP signer of the Declaration of investors in Bangladesh factories</span>
General information

ERAFP signer of the Declaration of investors in Bangladesh factories

  • 26 October 2016
Shareholder engagement

The fire in the plastic packaging plant Tampaco Foils in northern Dhaka September 10, 2016 killed 34 and fifty wounded. It is the deadliest industrial accident in Bangladesh since the collapse of Rana Plaza in 2013.

Following this tragic event, ICCR (Interfaith Center on Corporate Responsibility) drafted a declaration to expand investors' expectations concerning the textile sector to other sectors, including plastic.
Indeed, in recent years, Bangladesh seeks to diversify its productions, not to depend precisely that textiles. And plastic is one of the most promising sectors, employing over a million people (according to the Bangladeshi union employers in this sector).
Therefore, in line with its SRI Charter and its principles on shareholder engagement, ERAFP already signed the previous joint statements on the subject, agrees again alongside other investors as companies working with the Bangladeshi factories:

  • implement comprehensive inspections related to fire and security which include thorough inspections of boilers,
  • train workers on procedures for fire and safety and workers and on the implementation and management of health committees,
  • provide financial compensation to injured workers and the families of those killed Tampaco, following the model of the trust fund donors Rana Plaza.

The text is to be read here.