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IUF Signs Cooperation Agreement with European Social Auditor Vigeo

Posted to the IUF website 06-Sep-2005

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The IUF has signed a cooperation agreement with the European social auditing firm Vigeo under which it will provide information for assessing the social policies and practice of companies in the agro-food, drinks, tobacco, catering/food service and leisure/tourism sectors.

Established in July 2002, Viego is headed by the former general secretary of the French national trade union center CFDT Nicole Notat. Vigeo's shareholders include national trade union centers as well as corporations and institutional investors. Its objectives include promoting and disseminating social auditing criteria and specific company ratings based on verifiable standards set out in international Conventions, Recommendations and codes (ILO, OECD, UN).

The IUF will primarily supply information on specific companies' records on trade union rights and collective bargaining, occupational health and safety, wage policy, professional training, equality and working time. IUF affiliates will be invited to provide more specific information in certain cases, while the IUF will receive Viego's company analyses. As a growing number of investors increasingly make use of social audits, the cooperation agreement offers a potential tool for unions to influence certain management decisions.