Improvement Areas & Actions: Financial Sector

Improvement Area and Actions: Financial Sector

These are the strategies companies must embrace:

• Impact Area: Workplace: Considering child labour as a significant risk factor when evaluating clients.

This means scrutinising the potential for child labour involvement in any entity they lend to, provide commercial credits to, or invest in directly or through funds.

While this is crucial for the Banking industry, it may be less applicable to Real Estate and certain types of Insurance.

• Impact Area: Workplace: Supporting youth in the workplace or supply chain to gain valuable work experience.

Companies can help youth develop their skills under safe conditions.

• Impact Area: Workplace: Ensuring children’s needs, health and safety are considered for products and services companies provide.

That’s achieved by listening to and considering children as stakeholders.

• Impact Area: Workplace: Enabling children’s development.

Companies can provide or support youth financial literacy programmes.

• Impact Area: Community and Environment: Protecting children’s health and safety in the wider community.

Real Estate companies might assess whether projects would negatively impact the surrounding space for children, such as closing playgrounds or green spaces.

• Impact Area: Community and Environment: Protecting the future wellbeing of children.

For example, by reducing emissions and taking a more circular approach to resource use.