Focus area: children's rights

NBIM expects companies to monitor child labour, eliminating the worst forms, in their operations and supply chains. We have outlined our expectations in the document NBIM Investor Expectations on Children’s Rights.

We regularly assess how the companies we invest in meet these expectations, publishing the results in annual compliance reports. We use our findings as a basis for dialogue with companies to try to improve their management of child labour. We also seek industry-wide initiatives to combat the worst forms of child labour, particularly in the cocoa, mining, steel and apparel retail industries.  

We expect companies to:

Prevent the worst forms of child labour

Companies should combat hazardous working conditions that may physically or mentally damage children. This expectation is based on the International Labour Organization’s (ILO) Convention 182 concerning the prohibition and immediate action for the elimination of the worst forms of child labour.

Sustain the minimum age standard

The minimum age for employment should normally not be below the age for compulsory schooling and under normal circumstances not below 15 years. For hazardous work the age must not be lower than 18. This expectation is based on ILO Convention 138 concerning the minimum age for admission to employment.

Promote child welfare

Large companies should work with other stakeholders to secure the basic rights of children whose lives are adversely affected by company activities. This expectation is based on the UN Convention on the Rights of the Child.

Use governance structures

Companies must have a governance structure that facilitates realistic strategies and responses to the management of child labour and children’s rights. Such a structure might entail board-level involvement, board committees, management responsibilities, risk-management systems, internal control processes, reporting lines, timelines and internal sanctions.