FINANCE NEWS: FTSE4Good details criteria on supplier workers' standards

FTSE4Good is setting out its first-ever list of criteria on labour standards in the supply chain, and is inviting feedback from interested groups.

FTSE said it had taken the International Labour Organisation standards as its starting point and drawn on the approaches of the UK-based Ethical Trading Initiative, as well as two US groups, to formulate the proposed criteria.

Initially, the criteria will require companies to deal with the supply chain labour standards of their first-tier suppliers globally, while expecting those suppliers to communicate the policy requirements back down their supply chain.

Criteria will apply to companies that fall into the categories of household goods and textiles, food producers and processors, and retailers. It will apply initially to own-brand products only, but will eventually be extended to include proprietary brands.

Save the Children has confirmed that it is making a submission. The deadline for feedback is 19 December.

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