Clothing brands failing to eradicate forced labor risk in supply chains, research finds
Publishing timestamp: 2024-02-01 01:14:42
Summary
The article discusses a report by KnowTheChain, which analyzed 65 companies for their exposure to forced labor risk. The report found that the average score was 21/100, indicating that companies are falling short in addressing forced labor. Lululemon, Puma, and Adidas were the top performers, while LVMH was among the worst performers. The article highlights the efforts of Puma and Adidas in ensuring fair and safe working conditions. It also mentions that companies like Nike, Amazon, and Walmart scored relatively higher but have underperformed in the stock market compared to Puma and Adidas. The article emphasizes the need for companies to improve their human rights and environmental due diligence practices.
Sentiment: NEGATIVE
Tickers: LULU, PUM-DE, NKE, FL, PBYI, ADS-DE, AMZN, WMT, MC-FR, PUMA-FF,
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