As the Labour Day long weekend approaches, it’s worth mentioning that one of the issues that we take into account in our investment decision-making is how a company performs in relation to its workforce.
At the recent United Nations Principles of Responsible Investment (PRI) Conference in Singapore, I attended a discussion session about human rights abuses in the supply chain for seafood.
Some products – including some on our supermarket shelves – have been brought to market through the use of slaves, men who have been duped onto fishing vessels where they are kept for many months with their ‘wages’ going to corrupt ‘recruitment agencies’. It was encouraging to be in a room with like-minded members of the global investment community, signatories to the PRI, who are actively seeking ways to use its influence to stop this awful and unethical situation.
Labour Day is a celebration of both the attainment of improved working conditions in Australia (the 8 hour day) and of the contribution that workers make to the well-being of our economy. We at UFS also wish to acknowledge and thank all those who apply their skills, their minds, their toil and the creativity to making Australia a better place to live.
Read the full September UFS Newsletter here