Human rights & Anti-corruption
Respecting human rights is fundamental to deliver sustainable business value. Businesses are expected to uphold and promote the respect for human rights and carry out due diligence to identify, prevent and mitigate risks for adverse human rights impact throughout the value chain. Expectations from stakeholders are continuously increasing and in many markets the requirement for companies to perform human rights due diligence has already been included in national legislation. Corporate respect for human rights is also an essential parameter for green investments in the form of the Taxonomys’ Minimum Safeguards, as well as the subject of upcoming legislation on the European level. Key factors to ensure successful work with human rights include integrating human rights in existing business functions and securing strong support from the board and management team, setting the tone for ethical and sustainable business from the top.
There is a strong correlation between high levels of corruption in a country and weak protection of human rights and it is well-established that corruption harms the human rights of workers and communities affected by it. Business efforts to reduce and mitigate the risk for corruption throughout the value chain will therefore also drive positive progress in the area of human rights.