Friends Fiduciary Supports Robust Forced Labor Regulations

March 21, 2023

Friends Fiduciary has joined the Investor Alliance for Human Rights and 87 investors representing $2.44 trillion in assets under management by signing an investor letter in support of the European Commission’s legislative proposal to “prohibit products made with forced labor from entering the European Union market.” With a significant rise in modern slavery, investors are calling on the European Parliament and EU Member States to consider incorporating a worker and remedy centered approach and mandatory due diligence, disclosure and transparency to ensure a robust forced labor regulation. This includes going beyond just product-based bans to address systemic forced labor patterns across entire value chains and “systemic state-imposed forced labor.” A press release of the letter can be found here.