The IFC/ILO concluded that as of June 2016, the remaining funding gap of the total cost of remediating Bangladesh’s apparel industry is 448 million USD. While this estimate draws valuable attention to the magnitude of the financing gap, new research by the NYU Stern Center finds that this estimate is far too low.
A recently released follow-up study from the BRAC University’s Centre for Entrepreneurship Development in Dhaka, confirms the NYU Stern Center’s findings. Using a similar methodology that combines analysis of several online databases and field research the BRAC University Center found over 8,000 garment factories in Bangladesh.
The German government passed a law today requiring social media companies remove illegal, racist or slanderous content within 24 hours or face fines as large as $57 million. While governments have a legitimate interest in ensuring the safety of their citizens, laws like this are not the answer. Government legislation is a blunt tool that is likely to compound problems in this space, not solve them.
Over the past 30 years of globalization, it has become increasingly evident that, in many parts of the world, local governments are either unwilling or unable to protect their own people or the planet. As a result, governments, companies and civil society groups have formed a series of Multi-Stakeholder Initiatives (MSIs) to address environmental and human rights challenges. A review of them reveals that only few MSIs are equipped to address governance gaps
The three year extension of the Bangladesh Accord for Fire and Building Safety (“Accord”) is good news. As members of the Accord develop plans for the next four years they should pay special attention to the need for shared responsibility, local partners and subcontracting facilities.
Guest blogger Bjorn Fasterling describes a recent French law that obligates French companies to take human rights challenges into account. When assessing the implementation of the law by companies, it will be important to focus on whether it goes beyond a bureaucratic compliance and whether it extends beyond a low risk of liability regime.
Building on the successful outcome of the 2016 event, the Second Business and Human Rights Young Researchers Summit took place on 6-8th April in St Gallen, Switzerland. New participants, new contributions, yet the same drive: setting up an interdisciplinary discussion among a group of emerging scholars in the business and human rights discipline.
In times of regulatory rollback, limited resources, and an ever-growing list of corporate human rights abuses, fine-tuning our understanding of private governance mechanisms is more important than ever. How can the experiment of regulation through MSIs be safeguarded from a premature death in a politically hostile environment?
Human rights challenges pose serious reputational and operational risks for corporations. Are business schools adequately preparing graduates to manage these matters?
Monday, April 24 marks the fourth anniversary of the Rana Plaza factory tragedy in Dhaka, Bangladesh. More than 1,100 people were killed and more than 2,500 injured when the eight-story factory complex collapsed. The Accord and Alliance programs have one year left in their collective efforts to make the Bangladeshi garment industry safe and sustainable. What have they have achieved to date and what remains to be done?