After more than a decade since the United Nations Guiding Principles on Business and Human Rights was ratified, the impact of mining and other industrial projects on human rights has become a centre-stage risk for financial institutions.
Beyond a general concern with how the private sector upholds human rights as part of its environmental, social and governance (ESG) commitment, the issue is increasingly pinpointed in due diligence studies and impact assessments. The studies we conduct often require a ‘deep dive’ into the question of human rights.
Many segments of society have become increasingly mobilised around human rights, labour practice, environmental compliance and anti-corruption measures. This has raised the potential for stakeholder concerns to boil over into serious disruption and delays, and even the collapse of projects.
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