MUMBAI — Speedo International will investigate a report of possible human rights violations by its Indian partner Page Industries, which Norway's wealth fund dropped from its portfolio this week, the United Kingdom-based swimwear maker told Reuters. Norway's $1 trillion sovereign wealth fund, the world's largest, on Monday said that "unacceptable risk" due to human rights violation led to exclusion of some companies including Page, which is the exclusive licensee for Speedo and innerwear maker Jockey International in India. The fund's decision was based on its Council on Ethics' findings which flagged these concerns and also said that Page had violated national regulations on issues such as fire safety. While Page manufactures Speedo products in only one Indian factory which was not mentioned in the Council's report and was found compliant in an audit, the British company said it was concerned about the findings which it will investigate further.

Source: International New York Times September 03, 2020 06:11 UTC