This brief, produced by the ILO, is based on a study conducted as part of the ACCEL Africa Project, a regional project focusing on the issue of child labour in selected supply chains in six countries in Africa. The study seeks to assess the responsibility as well as legal obligations of financial sector actors in eliminating child labour in the cocoa supply chain in Côte d’Ivoire, especially those actors financing cocoa transactions at the level of exporters, buyers, and cooperatives. Current practices and potential roles of financial sector actors to address the issue of child labour in this context are assessed, and recommended actions are presented.
Key messages:
- Largest volumes of financial flows for the purchase of cocoa takes place between international and regional banks and international cocoa trading companies
- Banks are expected to use their leverage to mitigate child labour in cocoa to the greatest extent possible
- Banks are recommended to take actions to align with expectations in norms and regulations regarding child labour
