BCGEU releases investor brief for Gildan Activewear Inc (TSX: GIL)

Ahead of the annual meeting of shareholders of Gildan Activewear Inc (TSX: GIL) on May 28, 2024, the BCGEU has released a proxy memo about its shareholder proposal. Recent events surrounding the closure of a sewing factory in Honduras raise questions about Gildan’s human rights risk infrastructure. High rates of occupational injury coupled with safety risks including gender-based violence during transportation to and from work add to these concerns.

The BCGEU Proposal asks the board to prepare a report assessing the effectiveness of Gildan’s human rights risk infrastructure, in alignment with its human rights commitments. This reasonable request would provide investors with crucial information to evaluate risk management and mitigation efforts.

While Gildan has publicly committed to upholding human rights and outlines its assessment processes in various disclosures, the experiences shared by many workers suggest a misalignment with these commitments. This discrepancy raises concerns about the effectiveness of Gildan’s human rights practices. While most investors are focused on succession issues and a potential sale, we believe that the serious issues raised in this proposal still deserve scrutiny.

BCGEU encourages investors to vote FOR this proposal.

Read the BCEU investor brief for Gildan Activewear Inc here