15% of the World’s Most Influential Companies Fail to Protect Children, Raising Urgent Concerns
STOCKHOLM, Nov. 12, 2024 /PRNewswire/ — Global Child Forum, in partnership with Boston Consulting Group (BCG), today released its largest benchmark report to date, evaluating over 1,800 of the world’s most influential companies. The report reveals a concerning decline in corporate performance on protecting children’s rights, with a 12% drop since 2023. Notably, 15% of the companies assessed failed to take meaningful actions to safeguard children in critical areas such as supply chains, advertising, and community impact.
The expanded scope of the assessment, which grew from 795 companies last year to over 1,800 this year, uncovered that many newly assessed firms are neglecting their responsibilities toward children’s rights, contributing to the overall decline in scores.
“The findings are deeply concerning,” said Ekin Björstedt, Secretary General of Global Child Forum. “It is alarming to see so many influential companies, particularly in IT and financial services, fail to mention children in their policies and programs.”
Despite these challenges, there has been some progress. Over 56% of companies previously benchmarked have shown improvements, with Nordic companies leading the way.
Sector performance varied widely, with healthcare emerging as the highest-performing industry, while the energy and financial sectors ranked among the lowest. Particularly concerning is the low performance of the IT Software and Services (B2C) sector.
“These results are a wake-up call,” said Johan Öberg, Managing Director and Senior Partner at BCG. “While some companies are stepping up, far too many are still falling short, calling for stronger regulation and transparency.”
ABOUT GLOBAL CHILD FORUM
Founded in 2009 by the Swedish Royal Family, Global Child Forum is a leading forum for children’s rights and business dedicated to innovative thinking, knowledge-sharing and networking. We believe in the power and responsibility of business, working in partnership with all parts of society. For more information, visit www.globalchildforum.org.
ABOUT BOSTON CONSULTING GROUP
Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholders. For more information, go to www.bcg.com.
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SOURCE Global Child Forum
