G-7 Summit: explicit support for establishing social minima along global supply chains

It is the first time that the subject of social and environmental standards in the labor world has occupied such an important place on the G7 agenda. The summit was held at the Chateau Elmau in Bavaria Germany over June 07 and 08. The G-7 leaders’ final declaration recognized their significant responsibility for and key role in improving the situation the world currently finds itself in. As well as concrete backing for international labor and human rights standards the leaders also announced the setting up of a new fund to support the implementation of national policies aimed at better worker protection be it physical, moral, or legal. The ‘Vision Zero-Fund’ will be managed in conjunction with the International Labour Organization (ILO). Although welcomed by NGOs such as OXFAM, the final text is a little limiting as regards businesses and does not give concrete numbers for the fund. A working group is set to meet in October 2015.