* 44 pct of 527 firms score zero in child labour survey
* Disney, Ericsson, H&M, Intel, Motorola get top marks
OSLO, June 10 Europe's largest equity investor
urged companies to step up the fight against child labour on
Friday and said nearly half of the 527 companies it surveyed
were failing to address the issue properly.
Norges Bank Investment Management (NBIM) manages Norway's
half-a-trillion-dollar sovereign wealth fund, which invests the
Norwegian state's tax revenues from oil and gas activities
NBIM is one of the largest sovereign wealth funds in the
world along with those of the United Arab Emirates and China.
"In the three years since we began examining how companies
manage child labour risks, we've seen an increase in the number
of businesses that address these issues," Anne Kvam, global head
of ownership policy at NBIM, said in a statement.
"However, the overall level of reporting on these issues is
still far too low and companies need to step up efforts if the
international community is to meet targets for eliminating
hazardous child labour by 2016."
It said 232 out of 527 companies scored zero points out of a
possible 10 in the survey, meaning they had failed on criteria
such as having a child labour policy in place or having systems
to prevent adverse effects of the firm's actions on children's
The average score was 2.2 out of a maximum 10 points.
The International Labour Organization (ILO) estimates that
around 115 million children around the globe are involved in
work that is likely to harm their health, safety or morals, said
NBIM, which invests in around 8,700 firms worldwide, said it
expects companies to prevent the worst forms of child labour and
promote children's rights in their operations and supply chains.
Its evaluation is based solely on the companies' public
reporting on child labour.
The nine companies that scored top marks for fighting child
labour, NBIM said, were Walt Disney (DIS.N), Ericsson
(ERICb.ST), Hennes & Mauritz (HMb.ST), Intel (INTC.O), Motorola
(MMI.N) (MSI.N), Anglo American (AAL.L), Phillips-Van Heusen
(PVH.N), Gildan Activewear (GIL.TO) and Xstrata XTA.L.
The fund did not name the companies that scored badly in the
NBIM said the companies that got top marks took action to
protect child rights in their operations and supply chains.
"They report on corporate action to prevent the worst forms
of child labour, sustain a minimum age for labour and promote
children's rights," the fund said. "They also provide
information on how children's rights are governed at their
(Reporting by Oslo newsroom; Editing by Andrew Heavens)