Operating in every corner of the country, banking groups work closely with local populations....
In March 2012, UNICEF, the Global Compact and the NGO Save the Children published the Children's Rights and Business Principles.
Ten months after their adoption, Vigeo reviewed how the CAC 40 companies integrated these principles. The key findings of the study are the following:
• The majority of companies under review have made explicit commitments towards children's rights. However, they generally only concern the respect for the minimum age for admission to employment.
• For most of the CAC 40 companies, child labor remains a pertinent supply chain issue due to the precarious legal frameworks in force in the suppliers' countries.
• However, most of due diligence measures implemented by companies to identify and mitigate the risks to be involved in human rights controversies do not make explicit references to children's rights.
• Currently, companies deal with social responsibility as regards children's rights through their community programs. This tends to take the form of charity initiatives with a focus on education & health.
• BNP Paribas, Danone, L'Oréal, LVMH , Sanofi, STMicroelectronics and Vivendi are the most advanced in terms of reporting and concrete initiatives.
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