👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Nike the focus of Canadian investigation into forced labour

Published 2023-07-12, 06:59 a/m
© Reuters.  Nike the focus of Canadian investigation into forced labour
XAU/USD
-
GC
-
NKE
-

Proactive Investors - Canada’s ethics watchdog is investigating claims that Nike (NYSE:NKE) Canada and a gold mining company benefitted from forced labour operations of Uyghur people in China.

Probes into the matter stem from complaints filed by several human rights groups, according to the BBC.

Global sports and fashion brand Nike said that it no longer has ties to the companies accused of using Uyghur forced labour, while Dynasty Gold claims these allegations rose after it had left the region.

The investigation is the first conducted by the Canadian Ombudsperson for Responsible Enterprise (CORE) since it launched its complaint team in 2021.

CORE alleges that Nike Canada had supply relationships with several Chinese companies linked to forced labour, according to a report published by the think tank Australian Strategic Policy Institute.

The report also suggests that Dynasty Gold was a beneficiary of forced labour at a mine in which it held a majority interest.

Uyghurs are an ethnic Muslim group, situated in Xinjiang in the west of China.

A 2022 United Nations report found China had committed “serious human rights violations” against Uyghurs, a claim that Beijing denies.

Read more on Proactive Investors CA

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.