Embedding human rights aspects into your business

In the contemporary corporate landscape, the integration of human rights principles is a compelling mandate, aligning with milestone document in the history of human rights i.e. The Universal Declaration of Human rights (UDHR) and foundational UN Guiding Principles of Business and Human rights (UNGP-BHR).

The UNGPs, developed by the United Nations in 2011, established a global standard for preventing and addressing the adverse impacts of business activities on human rights. The National Guideline for Responsible Business Conduct (NGRBC), mirroring these principles at the Indian national level, further solidifies the imperative for businesses to embed human rights considerations into their operations.

Research conducted by renowned institutions has highlighted the strategic significance of incorporating human rights into corporate strategies. The UNGPs emphasise that respecting human rights is not just a moral responsibility but is integral to sustainable business practices. The Corporate Human rights Benchmark (CHRB), a key initiative assessing human rights performance, provides empirical evidence. It evaluates companies based on their commitment to human rights across various sectors, indicating a correlation between high-ranking companies and enhanced financial performance. This correlation is reinforced by the NGRBC, which emphasises that human rights due diligence contributes to long-term business success. The UNGPs emphasise the role of businesses acting as leaders in providing effective remedies for human rights impacts.

The Covid-19 pandemic has exacerbated human rights challenges in businesses, with employment losses disproportionately affecting women during the first lockdown in 2020, where 47% of women lost their jobs in comparison to 7% of men in a report by the Center for Sustainable Employment at Azim Premji University in India (UN Women). Furthermore, the global workforce experienced workplace closures, revealing the urgent need to businesses to address the intersection of health crisis and underlying human rights concerns.

To discuss the landscape and opportunities, KPMG in India will be bringing together a range of stakeholders for a webinar, titled, “Embedding Human rights elements into your Business.”