Friends Fiduciary supports investor statement on McDonald’s child labor law violationsJune 23, 2023
FFC joined fellow investors signing on to an investor letter to McDonald’s Chairman of the Board requesting the company conduct a human rights risk assessment, specify oversight of human rights and adopt a zero-tolerance policy in regard to child labor law violations. The Department of Labor has fined three McDonald’s franchises for violations including violations of legal limits on hours, violations related to age requirements for dangerous tasks, and unpaid overtime or lack of pay. These violations create significant investor concern, posing increased, “legal and reputational risk to shareholder value, regardless of whether they involve franchise or company-owned restaurants.” Friends Fiduciary will continue to raise investor concerns in response to increasing child labor violations in the U.S. The letter was also featured in a Washington Post article found here.