• RankiaPro Europe
    • RankiaPro Spain
    • RankiaPro LATAM
    • RankiaPro Italy
SUBSCRIBE
Search
Close
  • Home
  • Insights
    EQUITIES
    EQUITIES
    FIXED INCOME
    FIXED INCOME
    ESG
    ESG
    INTERVIEWS
    INTERVIEWS
    MARKET OUTLOOK
    MARKET OUTLOOK
    ETF
    ETF

    Featured

    outside allianz GI
    Insights

    China Briefing

  • News
    APPOINTMENTS
    APPOINTMENTS
    LAUNCHES
    LAUNCHES
    ASSET MANAGERS
    ASSET MANAGERS

    FEATURED

    rankiapro-blackrock-lanza-nuevo-fondo-ucits-asignacion-global-sostenible-europa
    Launches

    BlackRock launches new Sustainable Global Allocation UCITS Fund in Europe

  • Magazine
    RANKIAPRO EUROPE
    RANKIAPRO EUROPE
    RANKIAPRO IBERIA
    RANKIAPRO IBERIA
  • Events
    RANKIA FUNDS EXPERIENCE
    EVENTS & CONFERENCE CALLS
    EVENTS & CONFERENCE CALLS
    RANKIAPRO MEETINGS
    RANKIAPRO MEETINGS
  • Podcast
  • MiFIDII Training
Menu
  • Home
  • Insights
    EQUITIES
    EQUITIES
    FIXED INCOME
    FIXED INCOME
    ESG
    ESG
    INTERVIEWS
    INTERVIEWS
    MARKET OUTLOOK
    MARKET OUTLOOK
    ETF
    ETF

    Featured

    outside allianz GI
    Insights

    China Briefing

  • News
    APPOINTMENTS
    APPOINTMENTS
    LAUNCHES
    LAUNCHES
    ASSET MANAGERS
    ASSET MANAGERS

    FEATURED

    rankiapro-blackrock-lanza-nuevo-fondo-ucits-asignacion-global-sostenible-europa
    Launches

    BlackRock launches new Sustainable Global Allocation UCITS Fund in Europe

  • Magazine
    RANKIAPRO EUROPE
    RANKIAPRO EUROPE
    RANKIAPRO IBERIA
    RANKIAPRO IBERIA
  • Events
    RANKIA FUNDS EXPERIENCE
    EVENTS & CONFERENCE CALLS
    EVENTS & CONFERENCE CALLS
    RANKIAPRO MEETINGS
    RANKIAPRO MEETINGS
  • Podcast
  • MiFIDII Training
Search
Close
Search
Close

Home | Global companies still falling short on human rights, despite mounting pressure

Global companies still falling short on human rights, despite mounting pressure

The Automotive sector, included for the first time this year, is the worst performing industry ever to be ranked by CHRB, exposing the sector’s failure to manage or even adequately track human rights risks in supply chains.
Patricia Molina

Investor Relations Specialist

2020/11/16

The World Benchmarking Alliance (WBA) has launched its fourth edition of the Corporate Human Rights Benchmark (CHRB) assessing 230 of the world’s most influential companies on their human rights disclosures. 

Nearly half of the global companies assessed are failing to demonstrate they are conducting human rights due diligence in line with the United Nations Guiding Principles on Business and Human Rights. This is deeply concerning, given that human rights due diligence is at the heart of any good approach to managing human rights and is essential for companies to drive sustainable change and support the Sustainable Development Goals (SDGs). 

“There is a concerningly large group of companies who have made little to no progress in the last 12 months. We’re sensing a real reluctance from the laggards to improve. When we look at the companies assessed for the first time this year, 70% failed to score any points on human rights due diligence. While a small group of companies are demonstrating strong commitment and processes, it’s not always clear that these deliver their intended effects. Clearly, businesses alone won’t raise the bar and with COVID-19’s compounding impact, there is a real need for regulatory action, as planned by the European Union, as well as increased investor pressure to force change.” 

Camille Le Pors, CHRB Lead at WBA

Following the 2019 edition of WBA’s CHRB, 95 companies were targeted by a joint statement from a group of 176 investors for scoring zero on all human rights due diligence indicators. Of these, 79 are still scoring zero in 2020.

“Despite some progress, too many of the world’s largest companies are failing to meet investor expectations on human rights issues, especially around due diligence in their supply chains. This lack of improvement is unacceptable, and these companies should be required to explain to investors, as well as other stakeholder groups, why their disclosures on such an important topic are so poor. The societal, financial and moral imperative is clear – the global business community needs to step up its game if we want to have any chance of achieving the Sustainable Development Goals by the 2030 deadline.”

Marte Borhaug, Global Head of Sustainable Outcomes at Aviva Investors, a founding member of the CHRB

The Automotive sector, included for the first time this year, is the worst performing industry ever to be ranked by CHRB, exposing the sector’s failure to manage or even adequately track human rights risks in supply chains. Not a single automotive maker scored above 50%, and half of the 30 companies assessed scored below 10%. 

A just transition is undermined by a disconnect between human rights and climate issues

The 30 automotive companies researched by CHRB were also assessed by WBA’s Climate and Energy Benchmark, which shows that much more needs to be done to achieve the UN Paris Agreement goals in time by setting ambitious emissions targets. 

Most automotive companies that demonstrated action on climate issues disclosed very little, if any, information on how they manage human rights, and vice versa.

“This is extremely alarming as a distinct requirement of the UN Paris Agreement is to achieve a ‘just transition’; a future where no one is left behind in the movement towards a net zero-carbon economy. Without consideration for human rights, we will only exacerbate existing inequalities and increase the potential for exploitation of already vulnerable groups.”

Vicky Sins, who leads the Decarbonisation and Energy Transformation at WBA

WBA´s Automotive Benchmark, developed in partnership with CDP & ADEME using the ACT methodologies launched last year, and the 2020 Update is available here: https://www.worldbenchmarkingalliance.org/publication/automotive  

Nordea on the results

“As we have with the previous assessments data, we will integrate the 2020 results in our in-house ESG research platform and use them in our engagement with companies. The CHRB data is very important as driver for our work on human rights and as a source of information – we now have unique and comparable data over a number of years for some companies and are able to track their performance on human rights issues in a very systematic way.”

Katarina Hammar, Head of Active Ownership at Nordea Asset Management, a member of the CHRB

The full 2020 Corporate Human Rights Benchmark, including a sector breakdown and individual company scorecards, is publicly available here: www.worldbenchmarkingalliance.org/publication/chrb

  • ESG

Related Post

COVER-China-Fidelity
  • Equities, Insights

Fidelity International obtains licence to operate mutual fund business in China

China is a strategic, long-term priority market for Fidelity International.
COVER-Neuberger Berman-fondo europeo.
  • News

Neuberger Berman announces final close of second european long-term investment fund

The fund invests across a range of private equity asset classes.
COVER-mayoría de inversores españoles cree que las inversiones sostenibles
  • ESG, Insights

Expert investors believe sustainable investing most likely to drive long-term returns

According to Schroders, nearly 70% of a universe of 23,000 investors believe sustainable investment is the only way to ensure profitability in the long term.
NEWSLETTER
If you want to keep up to date with the latest news from the asset management industry and all our events, subscribe now to our newsletter.
Subscribe

Last Tweets

2h

🗣️ @BNPPAM_COM appoints new Deputy Head of US Equities

🔗#Appointment #USEquities #RankiaProEurope
...https://en.rankiapro.com/bnp-paribas-am-appoints-new-deputy-head-of-us-equities/

5h

🗣️ European fund flows 2022: contrasts and turning points

🔗#EuropeanFunds #RankiaProEurope
...https://en.rankiapro.com/european-fund-flows-contrasts-turning-points/

7h

🗣️Why this is the perfect environment for stockpickers

🔗#InvestmentOpportunities #Equities #RankiaProEurope
...https://rankiapro.com/en/why-this-perfect-environment-stockpickers/

27 Jan

🗣️ Two Fund Selectors talk about “Investment strategies outlook 2023”

🔗#InvestmentOutlook
...#InvestmentStrategies #RankiaProEurope
https://en.rankiapro.com/conference-call-investment-strategies-outlook/

RankiaPro

  • Home
  • Insights
  • News
  • Magazine
  • Events
  • About us
Menu
  • Home
  • Insights
  • News
  • Magazine
  • Events
  • About us

Terms and uses

  • Cookies Policy
  • Privacy Policy
  • Disclaimer
Menu
  • Cookies Policy
  • Privacy Policy
  • Disclaimer

Contact

  • Email: [email protected]
  • Phone: (+34) 963 386 976
  • Mobile: (+34) 640 308 023

Newsletter

If you want to keep up to date with the latest news from the asset management industry and all our events, subscribe now.

Subscribe

All rights reserved © 2003 – 2021 Rankia S.L.

RankiaPro

  • Home
  • Insights
  • News
  • Magazine
  • Events
  • About us
Menu
  • Home
  • Insights
  • News
  • Magazine
  • Events
  • About us

Terms and uses

  • Cookies Policy
  • Privacy Policy
  • Disclaimer
Menu
  • Cookies Policy
  • Privacy Policy
  • Disclaimer

Contact

  • Email: [email protected]
  • Phone: 963 386 976 – 601 302 692

All rights reserved © 2003 – 2021 Rankia S.L.

Manage Cookie Consent
To provide you the best experience on our website, we use technologies like our own and third-party cookies for analytical purposes and to store device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique identifiers on this site. Not consenting or withdrawing consent may adversely affect certain features and functions.

To learn more, please read our Cookie Policy and Privacy Statement.
Functionality or Personalisation Cookies Always active
These cookies are necessary for the website to function or for the unique purpose of transmitting a communication over an electronic communications network, and cannot be disabled on our systems. Usually they are set up to respond to actions made by you to receive services, such as adjusting your privacy preferences or filling out forms. You can set your browser to block or alert you to the presence of these cookies, but some parts of the website will not work. These cookies allow the website to provide better functionality and personalisation. They may be set by us or by third parties whose services we have added to our pages. If you do not allow these cookies some of our services will not work properly.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics Cookies
These cookies allow us to count traffic sources in order to measure and improve the performance of our website. Storage or technical access which is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing Cookies
These cookies may be site-wide, placed by our advertising partners. These third parties may use them to create a profile of your interests and show you relevant adverts on other sites. If you do not allow these cookies, you may receive less targeted advertising.
Manage options Manage services Manage vendors Read more about these purposes
Cookie Settings
{title} {title} {title}
  • RankiaPro Europe
    • RankiaPro Spain
    • RankiaPro LATAM
    • RankiaPro Italy
Menu
  • Home
  • Insights
    • Equities
    • ESG
    • ETF
    • Fixed Income
    • Interviews
    • Market Outlook
  • News
    • Appointments
    • Asset Managers
    • Launches
  • Magazine
    • RankiaPro Europe
    • Magazine Iberia
  • Events
    • Rankia Funds Experience
    • Online Events
    • RankiaPro Meetings
  • Podcast
  • MIFIDII Training

Follow us on social media

Linkedin Twitter Youtube Flickr

NEWSLETTER

Subscribe

Book now

Global companies still falling short on human rights, despite mounting pressure