Setting expectations around what companies should be providing investors such as:
a) Policy – a stand-alone and/or integrated organisational-wide human rights policy, or policies, that reflects our commitment to respect and support human rights, outlining commitments and accountabilities, and issued by the CEO or Chair of the Board; b) Governance – human rights explicitly included in the entity’s governance structures and integrated into decision-making procedures; c) Culture – a culture that supports respect for human rights as core to business values and decisions and commits to meaningful consultation with potentially affected stakeholders; d) Due diligence – processes, as part of organisational operational risk management, that support the identification, assessment, prevention and mitigation of potential material adverse human rights impacts and risks, integrate due diligence findings and tracks effectiveness of due diligence responses; e) Grievance – accessible and safe grievance mechanisms and procedures to allow rights holders to report human rights concerns; f) Remediation - processes to enable the remediation of material adverse human rights impacts companies cause or to which they contribute; and g) Disclosure - a system for monitoring the effectiveness and publicly reporting on the entity’s progress on assessing, mitigating and responding to adverse human rights impacts associated with its operations, products and services and business relationships.
And committing to our own action:
1. Governance – reference human rights frameworks and conventions in our investment policies and promulgate these throughout our management systems to operationalise these policies; 2. Integration – include human rights impacts and risks and opportunities in our ESG assessment and investment decision-making procedures; 3. Stewardship – build human rights risks and opportunities into our active owner and stewardship initiatives (i.e. engagement and voting); 4. Collaboration – share knowledge and participate in collaborative industry initiatives and across stakeholder groups to amplify our message and magnify our impact to this commitment; and 5. Transparency – publicly report on our progress and the effectiveness of our responses.