Thirty-six investors representing over US$947 billion have collectively called on companies and governments to urgently address instances of violence and harassment across global supply chains. Signatories – including Storebrand Asset Management and Scottish Widows – pointed to the International Labour Organization’s (ILO) global survey, which has estimated that at least one in five people have experienced violence and harassment at work. The ILO’s Convention on Violence and Harassment (C190) includes specific recognition of the right of everyone to a world of work that is free from violence and harassment, setting out the obligation to respect, promote and realise this right, the statement said. The group of financial institutions has asked companies and governments to translate the goals of this convention into a reality, noting that it has so far only been ratified by 45 countries. “Failing to address this risk has significant costs for companies, countries, communities and individuals,” the statement said. For example, the ILO study found that sexual harassment and violence can lead to economic losses of 1-3.5% of national gross domestic product. “As investors representing over US$947 billion in assets under management, we recognise the critical role of the private sector in the effective implementation of ILO C190,” the group said. “We also urge governments to ratify C190 to prevent and end all forms of violence and harassment at work. Universal ratification will create safer and more equitable workplaces, benefiting society as a whole.” The investor statement is linked to the World Benchmarking Alliance’s Collective Impact Coalition on Violence and Harassment.
