Wal-Mart (NYSE: WMT) is reporting that is finding fewer instances of serious labor violations during inspections of more than 8,900 factories that supply the retailer with the inexpensive imported goods that American consumers crave. The socially responsible/religious investors who have lobbied the company to improve its labor practices are pleased.
"We believe there is lots more to be done," Rajan Kamalanathan, vice president of ethical standards, told The Associated Press in an interview.
"We also recognize that we alone just can't solve these complex issues we face out there and look forward to working with other brands and retailers to improve conditions in the factories that we all source from."
It's encouraging to see Wal-Mart taking corporate ethic seriously and the decrease in labor violations is likely a direct result of the company's increased vigilance.
Continuing changes at Wal-Mart will likely come as a result of increased activism on the part of socially responsible shareholders. The company's size gives it the power to change the working conditions in third world countries in a huge way, and it looks like the company is finally doing that.
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