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The CORE terminates review of human rights complaint against Ralph Lauren Canada LP

1. CORE terminated review of human rights complaint against Ralph Lauren Canada. 2. The complaint involved Uyghur forced labor allegations related to suppliers. 3. The complainants withdrew after satisfactory responses from Ralph Lauren Canada. 4. No further recommendations were provided as Ralph Lauren is inactive in Canada.

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FAQ

Why Bullish?

The termination of the complaint reduces reputational risk for Ralph Lauren, potentially stabilizing stock performance. Past incidents, such as boycotts due to ethical concerns, indicate improved compliance boosts investor confidence.

How important is it?

The report signifies a resolution to a significant human rights issue, influencing investor sentiment positively. A strong ethical stance can enhance brand loyalty and market presence.

Why Short Term?

The resolution likely improves immediate market sentiment but may not ensure long-term stability. Prior resolutions of controversies led to short-term stock rebounds but did not prevent future challenges.

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OTTAWA, Ontario, Nov. 28, 2024 (GLOBE NEWSWIRE) -- The Canada Ombudsperson for Responsible Enterprise (CORE) has terminated its review of a human rights complaint against Ralph Lauren Canada LP (Ralph Lauren Canada). Published today, the final report details the alternative dispute resolution process that led to an agreement between the parties. This report comes after the initial assessment report, published in August 2023, which announced the launch of independent fact-finding into the company’s supply relationships with Chinese companies alleged to be using, or benefitting from, Uyghur forced labour. The independent fact-finding was paused when the parties agreed to engage in the CORE’s alternative dispute resolution process. On June 7, 2024, the complainants notified the CORE of their decision to withdraw the complaint given satisfactory responses from Ralph Lauren Canada. Thereafter, the CORE formally terminated the review of the complaint. As Ralph Lauren Canada is no longer an active company in Canada, the CORE has no recommendations for further follow-up. The CORE recommends that all Canadian companies operating abroad establish and regularly review their responsible business policies and practices to fulfill their responsibilities to respect human rights in line with the Government of Canada’s responsible business conduct expectations, the United Nations Guiding Principles on Business and Human Rights, the Organisation for Economic Co-operation and Development's Guidelines for Multinational Enterprises and other sector-specific international frameworks and guidelines. Media contact:Kristina Jelinicinfo@core-ocre.gc.ca

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