Pillar of Shame is part of a series of sculptures by Danish artist Jens Galschiøt. Each sculpture is an 8-metre tall statue of bronze, copper or concrete. The sculpture was inaugurated at the NGO Forum of the FAO summit in Rome, 1996. Since then three other pillars have been erected: in Hong Kong, Mexico, and Brazil.
The sculpture serves as a warning and a reminder to people of a shameful event which must never reoccur.
The Pillar of Shame on Wikipedia
See more about the Pillar of Shame here.