Speedo International will investigate a report of possible human rights violations by its Indian partner Page Industries, which Norway’s wealth fund dropped from its portfolio this week, the United Kingdom-based swimwear maker told Reuters.
Norway’s $1 trillion sovereign wealth fund, the world’s largest, on Monday said that “unacceptable risk” due to human rights violation led to exclusion of some companies including Page, which is the exclusive licensee for Speedo and innerwear maker Jockey International in India.
The fund’s decision was based on its Council on Ethics’ findings which flagged these concerns and also said that Page had violated national regulations on issues such as fire safety.
The original full article can be found at reuters.com
(Photo: Getty Images)