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Safeguarding against human rights abuses

25 June 2021 Stock Stories, Voting, Engagement

Social engagement case study - Veritas Asset Management

Alliance Trust had an allocation to Vinci, a French construction and concessions company as at 30 September 2020.

Area of engagement
EOS has engaged with Vinci over time with respect to its exposure to the risk of complicity with regards to potential labour and human rights abuses in Qatar.

Vinci made a number of changes, including creating a global task force of human rights directors, appointing an independent third party firm to conduct a human rights impact assessment, and organising a workshop on modern slavery.
In 2017, Vinci signed an agreement with QDVC, its joint venture with the real estate arm of Qatar’s sovereign wealth fund, and the union federation BWI. The agreement covers the human rights of QDVC workers employed in the country and includes due diligence on its sub-contractors. This agreement was the first of its kind in Qatar between a union federation and a Qatari company.

Companies mentioned are for informational purposes only and should not be considered investment advice.

Source: EOS at Federated Hermes.

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