Norges Bank Investment Management (NBIM) and the United Nations Children's Fund (UNICEF) have expanded their collaboration with a new initiative on children’s rights and nutrition.

The initiative will bring together companies in the food retail sector to discuss children’s rights and nutrition. NBIM, which is responsible for the investments of the Government Pension Fund Global (GPFG), has been collaborating with UNICEF since 2017on children’s rights in global garment and footwear supply chains (the garment network).

This initiative has now been finalised with the publication of a Compendium of company examples to address children’s rights, in addition to last year’s guidance tool.

Given the success and feedback from companies in the garment network, NBIM and UNICEF have decided to continue the collaboration by creating a new initiative focusing on children’s rights and nutrition.

Commenting, NBIM chief corporate governance and compliance officer, Carine Smith Ihenacho, said: “Children’s rights are a longstanding priority area for our responsible investment work. The rise in unhealthy diets and obesity around the world represents a new and growing challenge for children, families, society, and business alike.”

The new nutrition and children’s rights initiative brings together a network of companies in the food retail sector. The network will discuss how to assess the business risks and opportunities related to children’s nutrition, and how to contribute to improved business practices that respect children’s rights to nutrition and health.

“Companies in the food retail sector can be exposed to financial and sustainability risks related to a changing food regulatory environment, public calls to take action and potential shifts in consumer demand. This makes children’s rights to nutrition and health an important next topic for the fund in its continued collaboration with UNICEF,” Ihenacho added.

A selection of companies in which NBIM has holdings have been invited to join the network. Over the next two years, the ambition is to hold four workshops and develop a guidance tool similar to that of the garment network.

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