SRI investors support UN business and human rights report
Date: 11 Jun 2008
A group of investors specialising in socially responsible investment (SRI) have written to the UN Human Rights Council supporting the recent report by the Special Representative to the UN Secretary General on Business and Human Rights, John Ruggie, and calling for his mandate to work on the area to be extended.
Professor Ruggie's third report "Protect, Respect and Remedy" was presented to the UN Council at the end of his existing mandate, and identified a framework for business responsibility in this area. It identified that key problems are created when there are governance gaps - Governments do not fulfill their duties in relation to human rights, and companies are therefore left without clear parameters and are able to take actions without immediate legal consequence.
The group of investors called for "significant and urgent" work by companies to review their own operations to identify risks of complicity in human rights abuses.
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In a recent article, the BBC's economics editor Robert Peston highlighted the fact that in 2012 the chances are that the economy - punch drunk as it is from the various flavours of debt crisis it has been pummelled with over the course of the year - will be hit by the collapse of a major bank and / or government.
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