Investors release statement in response to the September 2016 Tampaco Foils Ltd. factory fire/building collapse in Bangladesh

Oct 25th 2016

On September 10, 2016 a boiler exploded at the Tampaco Foils Ltd. factory in Bangladesh causing a fire and building collapse that took the lives of 35 workers and injured over 50 more. Two major companies—British American Tobacco (BAT) and Nestle--have a business relationship with the Tampaco factory to package their products.  An investor statement coordinated by ICCR has called on the two companies to commit to: 

  1. Comprehensive fire and safety inspections that include thorough inspections of boilers.
  2. Worker training on fire and safety procedures and worker/management safety and health committees.
  3. Compensation to the workers injured and to the families of those killed at Tampaco, following the model of the Rana Plaza Donors Trust Fund.

Sixty-six investors with over $2.3 trillion in assets under management signed the statement (below).  Investors have requested dialogue with BAT and Nestle to get their responses to these recommendations.