RCM Parent Signs Investor Statement on Bangladesh Safety Accord
Allianz Global Investors, the corporate parent of RCM, one of Wespath Investment Management’s investment managers, has signed the Interfaith Center on Corporate Responsibility (ICCR) Investment Statement on Bangladesh. The ICCR statement, released in May, urges companies to work for improved safety in Bangladesh industrial facilities by participating in the Accord on Fire and Building Safety.
The Accord on Fire and Building Safety is a legally binding agreement detailing how owners of industrial buildings can make them safer for workers. Signatories to the Accord commit to independent facility inspections and fire safety training. The Accord also provides for the establishment of a governance committee, a remediation process and public reporting of results.
According to David Diamond, global co-head of ESG, Allianz Global Investors signed the ICCR statement because “it fits squarely with Allianz Global Investors’ engagement approach and support for multi-stakeholder initiatives seeking to resolve otherwise intractable problems of material concern to investors.”
Since its publication in May, the ICCR investor statement has been endorsed by more than 200 investors, representing more than $3 trillion in assets under management. Wespath also has signed the statement.