The ABIS member ABN AMRO published its first report using the UN Reporting Framework

The ABIS member ABN AMRO published its first report using the UN Reporting Framework

While private businesses have a broadly positive impact on the social and economic development of modern societies - creating wealth and jobs, adding value and providing services- their operations can also have a significant impact on civil and political rights, economic, social and cultural rights, and labour rights.

The UNGPs provide a coherent framework for addressing such possible adverse corporate impacts on human rights, as well as provisions for respect of international humanitarian law in situations of conflict.

The UNGPs are the first unanimously endorsed UN framework addressing and aiming to reduce corporate-related human rights abuses. The EU recognises the UNGPs as a framework conducive to responsible business, forming part of its Strategy on Corporate Social Responsibility (CSR).

The UNGPs are a set of 31 guiding principles, structured according to three distinct but interrelated pillars:

(1) The state duty to protect against human rights abuses by third parties, including businesses, through appropriate policies, regulation and adjudication;

(2) The corporate responsibility to respect human rights, in essence meaning to act with due diligence to avoid infringing on the rights of others; and

(3) The need for greater access by victims to effective remedy, judicial and non-judicial.

The ABIS member ABN AMRO is the first financial institution in the world to publish a human rights report based on the reporting framework of the UN Guiding Principles on Business and Human Rights.

The Dutch Bank is part of the six early adopter company to make this public commitment since the UNGP Reporting Framework launched in February 2015. Early adopter companies commit to both public reporting using the UNGP Reporting Framework as well as to sharing lessons learned about their reporting experience back to the project team behind the Reporting Framework to improve the guidance and supporting resources available to companies in the future.

The report focuses on four human rights issues: privacy, discrimination, labour rights and land-related human rights. These are the human rights that are most at risk of being violated by the activities of the bank and the companies it finances or invests in on behalf of clients.

This is ABN AMRO’s first report using the Reporting Framework.

From official ABN AMRO website: full report | summary of the report

Author: ABIS - The Academy of Business in Society