Swedish banks failing to fully act for H&M's underpaid textile workers

27 January 2022

Swedish banks are some of H&M's largest shareholders yet they are still not taking enough action to ensure the company pays the textile workers a living wage. During the pandemic wages have further deteriorated. This is revealed by a follow-up report - Put your money where your mouth is - by Fair Finance Guide in Sweden and its partner Fair Action.

The review is a follow-up to the report Broke in Bangladesh from 2019 and shows that although the  banks have increased their commitment to the issue of living wages, they place far too low demands on H&M to meet its own target regarding providing a living wage to textile workers, despite the fact that they invest close to SEK 22 billion in the company.

Read the full report (in English) Put your money where your mouth is