Since the disastrous industrial fire that occurred at a garment factory more than a year ago in Bangladesh; many giant retailers, governments, clothing companies and human rights group vow to step up and revolutionize the conditions of factories in labor concentrated countries. The aftermath of the fire that resulted more than one thousand deaths and twenty-five hundred injured led the world thinking about corporate social responsibility and their roles for ethics. But no one would have imagined that Wall Street would join in the boat to support a more ethical garment industry.

Bangladesh, reported to have a $24.5 billion garment industry, will receive support from big companies. One of the companies include Tau Investment Management, promising that it will contribute $500 million to upgrade and modernizing factories in the upcoming years. Jerry Yang, Yahoo’s co-founder is also not shy to take the initiative to fund better working conditions factories in Bangladesh, Indonesia, Cambodia, etc.. These actions do converge closely to Freeman’s Stakeholder Theory, showcasing all parties do comply to address ethics, whether it may be morals or values.

Niedermaier, the head for Tau Management, believes his company is “doing this because [they] think [they] can make a lot of money for [their] investors while [they’re] going to have very positive impacts on communities in which [their] offices are operating”. Haven’t said that, Tau is definitely not a charity. As a company they aim to ” make a lot of money for [their] investors while [they’re] going to have very positive impacts on communities in which [their] offices are operating”. Niedermaier believes companies need to act quicker in promoting ethics in the industry than consumers; for it is too late when consumers request to make change. In short, he believes “corporations and capitalist incentives are better mechanisms to change things”. But are these changes truly genuine, motivated by one’s own social conscience? Or are these changes happening simply to promote corporate image? Nonetheless, such changes is one step forward, a step towards achieving morality in the business world for the betterment of every society.

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