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Importance of Human Rights in Business

All companies have a responsibility to respect human rights in order to avoid infringing on others' rights, gain commercial benefits like investment and quality recruits, and uphold commitments to the UN Global Compact. Developing a human rights policy embeds respect for rights across business functions, responds to stakeholders, identifies risks, builds trust, fosters learning, and demonstrates good practice.

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Thanu Suthatharan
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7 views1 page

Importance of Human Rights in Business

All companies have a responsibility to respect human rights in order to avoid infringing on others' rights, gain commercial benefits like investment and quality recruits, and uphold commitments to the UN Global Compact. Developing a human rights policy embeds respect for rights across business functions, responds to stakeholders, identifies risks, builds trust, fosters learning, and demonstrates good practice.

Uploaded by

Thanu Suthatharan
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Why respect human rights?

All companies have a responsibility to respect human rights, which means to avoid infring- ing on the
human rights of others.
To gain commercial benefits associated with good human rights practice, e.g., attracting investment,
procurement, top-quality recruits and securing the social licence to operate.
To live up to the companys commitment to the United Nations Global Compact (if it is a

participant).

Why respect human rights?

All companies have a responsibility to respect human rights, which means to avoid infring- ing on the
human rights of others.
To gain commercial benefits associated with good human rights practice, e.g., attracting investment,
procurement, top-quality recruits and securing the social licence to operate.
To live up to the companys commitment to the United Nations Global Compact

Why develop a human rights policy?

To provide a basis for embedding the responsibility to respect human rights through all
business functions.
To respond to relevant stakeholder expectations.
To identify policy gaps and initiate a process that alerts the company to new areas of

human rights risk.

To elaborate on the companys commitment to support human rights.


To build increased trust with external stakeholders and to start to understand and address

their concerns.

To foster the development of in-house learning, management capacity and leadership on

human rights issues.

To demonstrate international good business practice.

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