The names of some banks and investment funds have been included in an internationally recognised document compiled to help clamp down on private-sector human rights abuses.
A just-released third draft of the United Nations (UN) Binding Treaty on Business and Human Rights is being negotiated by the open-ended intergovernmental working group (OEIGWG) under the UN Human Rights Council. The draft comes shortly after a recent announcement that a group of top international investors are launching a new collaboration to promote human rights in the corporate world.
A Responsible Investor (RI) report said the treaty is described as a “legally binding instrument to regulate, in international human rights law, the activities of transnational corporations and other business enterprises”. It is designed to help tackle human rights abuses globally by strengthening due diligence and grievance mechanisms.UN steps up corporate human rights expectations – Minerva-Manifest