We can check on a U.S. company directly, but we have to use third-party observers to track its overseas suppliers and subcontractors. Coincidentally, Gifford's situation involved Pax World portfolio holding Wal-Mart, which, along with The Gap, has become a leader among retailers in monitoring suppliers for fair labor practices. Now, a task force appointed by President Clinton has announced a significant step toward ending sweatshop conditions in the apparel industry. Simply canceling a contract is no longer enough.
Workers have the right to associate freely and to bargain collectively.
Employers may not subject employees to physical, sexual, psychological, or verbal harassment or abuse. Company internal monitoring programs must include regular consultation with local labor, human rights, religious, or other institutions which have the trust of workers and knowledge of local conditions. Thanks to the Interfaith Center on Corporate Responsibility for permission to draw freely from its newsletter, The Corporate Examiner. For more information, including charges and expenses, please obtain a prospectus to read carefully before investing. Pax World Managment Corp. All rights reserved.