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The development of the criteria has been overseen and approved by the independent FTSE4Good Advisory Committee, and is based on feedback from an industry-wide consultation exercise, conducted earlier in 2004. 82% of respondents agreed with FTSE’s suggested approach to adopt more stringent criteria for supply chain labour standards in companies. The new criteria draw on a range of existing international agreements, including the International Labour Organisation’s (ILO) Core Conventions.
Nigel Griffiths MP, Parliamentary Under-Secretary of State for Small Business, Enterprise and Construction, at the DTI has supported the move, “I very much welcome the launch of the FTSE4Good Supply Chain Criteria - voluntary initiatives by business to promote core labour standards are to be applauded.”
Commenting on the introduction of these standards, Lord Brett, Director ILO said, “Voluntary initiatives, such as the FTSE4Good supply chain labour standards criteria are complementary to the ILO Declaration of Fundamental Principles and Rights at Work: they help the development of the Decent Work Agenda. The ILO is pleased to have been part of the consultation and to see that core labour standards underpin the index criteria.”
Roy Ayliffe, Director of Professional Practice, Chartered Institute of Purchasing and Supply (CIPS) added, “ CIPS is happy to support the FTSE4Good initiative, as we believe the standards it is setting for FTSE organisations, while challenging, will deliver significant positive impact on these organisations’ supply chains.”
Implementation of the supply chain labour standards criteria will be supported by FTSE’s wide-ranging global company communication and engagement programme. An in-house CSR team is available to assist companies understand the criteria and how it applies to them.
Full details of the supply chain criteria can be downloaded from www.ftse.com/ftse4good
