In 2011 the UN Human Rights Council unanimously endorsed the Guiding Principles for Business and Human Rights. These 31 principles are based on three key principles; the duty of states and enterprises to protect and respect human rights and the possibility of legal remedy in the event of human rights violations. One of the principles in relation to this is that Companies should undertake human rights due diligence assessing human rights impacts not just in their own activities, but should also linked to wider impacts of their operations and activities. ... →
At the beginning of this year, the informal Thun banking group, consisting of UBS, Credit Suisse, Barclays, BBVA, BNP Paribas, Deutsche Bank, ING, RBS, Standard Chartered, UniCredit and JP Morgan, published a position paper on the understanding and scope of Article 13 of the UN -Leitprinzipien.
In this respect, the banking groups largely excluded their responsibility for protecting human rights. ... →