ESG News

Starting in 2022, the Centre for Child Rights and Business has been providing an annual Child Labor Remediation Feedback Report to its member companies with the aim of giving constructive feedback on the effectiveness of their remediation practices. The report serves as an insightful tool to help these companies track their progress and identify areas for improvement for their remediation process. Li & Fung stood out in all five feedback criteria with a score higher than the average of member companies, ranking second among all assessed companies in 2023. Upon reviewing the benchmarking, Li & Fung’s compliance team identified gaps in their practices and will be collaborating with key industry stakeholders in the supply chain to promote child rights protection, decent working conditions, and family-friendly policies.

External benchmarking allows Li & Fung to measure our performance objectively in comparison to industry standards, peers, and other relevant comparators. This approach can help us identify areas for improvement and establish progressive performance targets. The Centre’s exercise of external benchmarking also promotes the exchange of best practices and knowledge among companies in the same industry to benefit the industry as a whole.

[1] Nine global companies were assessed in 2023 by The Centre