RSF Social Finance and Odegard Partner to End Child Labor
Investors, donors, and borrowers at RSF Social Finance form a relationship with RSF because they know they are working with a financial services organization whose mission is aligned with their values. This month, RSF welcomes Odegard, Inc. as a new partner.
Odegard, Inc. was founded in 1987 by Stephanie Odegard, an international leader in contemporary carpet design and social responsibility. Stephanie has revolutionized the American handmade rug industry, and has proven that socially responsible business practices can improve the living conditions of thousands of workers and their children.
The New York-based company now employs more than 10,000 carpet workers in Nepal at four manufacturing sites. In addition to gaining access to the American market and having a livelihood that preserves a traditional artistic culture, employees have access to basic social services such as health care, day care, and education. In all her products, Stephanie requires strict adherence to social responsibility in countries where production takes place. All Odegard® carpets bear the RugMark® label. This label is the only recognized certification program to make sure carpets are made without child labor.
On why Odegard, Inc. chose RSF as its lender Stephanie says, “RSF Social Finance understands and supports the work that Odegard has been doing for the past twenty years. I founded my company with a commitment and belief in the same ideals on which RSF was founded—a commitment to better the lives of people in developing countries and a belief that fair business practices can improve economic, social, and environmental conditions.
For more information about Odegard, Inc., please visit www.odegardinc.com. For more information about the RugMark® label, please visit www.rugmarkfoundation.org. To invest with RSF, please contact us at 888.RSF.3737.
Photo: Stephanie Odegard at a school for child workers rescued from Nepal’s handmade rug industry.
Thursday, January 3rd, 2008