In a bid to combat labor abuses in India's sugar industry, the New York City comptroller is mobilizing investors and federal support to pressure major sugar buyers like Coca-Cola and Pepsico to adopt humane practices in Maharashtra’s sugar cane fields.
Wall Street's Role in Reforming Labor Practices in India's Sugar Industry
Wall Street's Role in Reforming Labor Practices in India's Sugar Industry
Pressure from major investors prompts a shift towards ethical labor standards in India's sugar fields, where reports of brutality and abuse are rampant.
The New York City comptroller is taking action against excruciating labor conditions present in India’s sugar cane fields, a move prompted by mounting pressure from pension funds and significant investors. Brad Lander is at the forefront of mobilizing institutional investors to demand that companies sourcing sugar from Maharashtra—like Coca-Cola, Pepsico, and Mondelez—address child labor, debt bondage, and other inhumane practices uncovered in an investigation conducted by The New York Times and The Fuller Project.
The comptroller oversees extensive pension investments nearing $1 billion in these corporations, which are implicated in a system rife with labor abuses often maintained through threats and violence. "We will bring pressure to bear on the companies we invest in who participate in that system by sourcing their supply from it and by funding it,” Lander stated, emphasizing a commitment to change.
Lander is collaborating with Indian labor representatives and investor coalitions to induce sugar buyers to make substantial improvements in their supply chains. Key firms like BNP Paribas Asset Management and Schroders have joined this initiative, highlighting a collective investment power that holds hundreds of millions in shares in these sugar purchasing companies.
Additionally, the Biden administration is also participating in these advocacy efforts, encouraging American firms to utilize their buying influence to instigate necessary reforms within sugar mills. Diplomatic communications suggest that companies should engage with labor unions in a bid to foster better working conditions.
This multi-faceted approach, bringing together activism from governmental bodies, institutional investors, and labor organizations, aims to bring attention to the plight of sugar cane workers in Maharashtra, advocating for a transformation in the ethical practices surrounding sugar production.
The comptroller oversees extensive pension investments nearing $1 billion in these corporations, which are implicated in a system rife with labor abuses often maintained through threats and violence. "We will bring pressure to bear on the companies we invest in who participate in that system by sourcing their supply from it and by funding it,” Lander stated, emphasizing a commitment to change.
Lander is collaborating with Indian labor representatives and investor coalitions to induce sugar buyers to make substantial improvements in their supply chains. Key firms like BNP Paribas Asset Management and Schroders have joined this initiative, highlighting a collective investment power that holds hundreds of millions in shares in these sugar purchasing companies.
Additionally, the Biden administration is also participating in these advocacy efforts, encouraging American firms to utilize their buying influence to instigate necessary reforms within sugar mills. Diplomatic communications suggest that companies should engage with labor unions in a bid to foster better working conditions.
This multi-faceted approach, bringing together activism from governmental bodies, institutional investors, and labor organizations, aims to bring attention to the plight of sugar cane workers in Maharashtra, advocating for a transformation in the ethical practices surrounding sugar production.
