Tesla Shareholders Demand Child & Forced Labor Rights
on behalf of Investor Advocates for Social Justice . The nonprofit has a mission to create a safe, just, and sustainable world in which protecting the environment and human rights is central to corporate decision making. Child and forced labor have become significant concerns for companies, consumers, and legislators.
The report continued on with the shareholders’ argument that child labor in the cobalt supply chain exposes Tesla and its investors to financial, legal, and reputational risks. A 2019 class action lawsuit was dismissed, Tesla reminded the shareholders. Although it did not challenge the fact that child labor is occurring in its cobalt supply chains, the US automaker argued that conduct by its suppliers is out of its control, and Tesla’s own policies prohibit its suppliers from using child labor.
They claim that the company is already facing risk, highlighted in a recent letter sent by 17 institutional investors who hold more than $1.5 billion of Tesla stock. Ato Tesla Chair Robyn Denholm states that each of these shareholders initially added Tesla to their portfolios because they saw Tesla “as a true leader in producing products and services essential for our transition to a sustainable and green economy.
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