Environmental Leader
News and Best Practices for
Commercial & Industrial Environmental Professionals
Investors Worth $5 Trillion Call Out Companies Over Human Rights Disclosure
May 21, 2018 by Alyssa Danigelis
human rights disclosure
(Photo Credit: Corporate Human Rights Benchmark)
A new report from the Corporate Human Rights Benchmark (CHRB), which is backed by a $5 trillion investor coalition, calls out 28 companies for failing to provide human rights information. The report also identified major corporations working on improving human rights to improve their scores in the benchmark.
CHRB is described as the first publicly available assessment and ranking of the human rights performance of 100 of the largest extractives, apparel, and agricultural product companies. It launched in 2013 as a multi-stakeholder initiative that draws on investor, business and human rights, and benchmarking expertise from seven organizations.
The “Corporate Human Rights Benchmark Progress Report” found that benchmarking is helping to drive a race to the top in corporate human rights performance as more companies engage on the issue. This means reviewing and changing their programs and policies to better manage and report on human rights. Investors are also requesting this disclosure.
After a pilot benchmark, the nonprofit CHRB worked with the UNGP Reporting Framework Investor Coalition, a group of over 85 investors with over $5 trillion. These investors sent a letter to all the companies that had been assessed. The letter outlined expectations concerning human rights and requested responses about the companies’ follow-ups to the benchmark.
Nestlé, Gap, Kellogg, Mondelez International, Starbucks, Target, and Tesco were among the companies that formally responded to that letter. “We are using the results of the company assessment and input from multiple stakeholder groups to continually evolve our programs and policies,” Gap’s response read.
However, the report also called out 28 companies that have not meaningfully engaged with the CHRB. “These large companies, including Kraft Heinz, Macy’s, Hermès, and Prada, had some of the lowest scores in the benchmark, indicating a lack of transparency and public commitment to managing human rights risks and impacts,” according to the benchmark organization.
The 28 companies are: Alimentation Couche-Tard, BRF, China Petroleum & Chemical Corporation, China Shenhua Energy, CNOOC, Coal India, Costco Wholesale, Devon Energy, EOG Resources, S.A.C.I. Falabella, Gazprom, Heilan Home, Hermès International, Kohl’s, Kraft Heinz, Kweichow Moutai, L Brands, LVMH, Macy’s, Norilsk Nickel, Oil & Natural Gas Corporation, PetroChina, Prada, Ross Stores, Shoprite Holdings, Surgutneftegas, Under Armour, and Valero Energy Corporation.
“Issues such as modern day slavery, worker safety and freedom of association can be material to the financial performance of these companies and they may risk restricted access to capital due to reputational damage and regulatory backlash,” said CHRB Board chair Steve Waygood, who is also chief responsible investment officer at Aviva Investors.
Categories Compliance, Environmental Management, Feature, Manufacturing, Supply ChainTags Corporate Human Rights Benchmark (CHRB), gap, human rights, Investors, Kellogg Company, kraft heinz, Mondelez International, Nestle, Starbucks, Target, Tesco
NAEM 2017 EHS&S Software Buyers Guide
Sponsored By: VelocityEHS
EHS Special Report
Sponsored By: Environmental Leader
Avoid the RFP Trap: The Smart Guide to Purchasing EHS Software
Sponsored By: VelocityEHS
Environmental Leader Product & Project Awards 2018
Sponsored By: Environmental Leader
Leave a Comment
NEWSLETTER
NEWSLETTER SIGNUP
Join 100,000+ subscribers who gain a competitive advantage with our news and analysis.
Select the newsletters that interest you: Environmental Leader Newsletter (Mon, Wed, Fri) Energy Manager Today Newsletter (Mon, Wed, Fri)
VelocityEHS - Click Here.
Environmental Leader Product and Project Awards - Click Here.
Corner Office
image
Assessing the ROI for EH&S Software
Insights, Articles, Research and More...
Leaders Leading
image
How recycling habits can influence the industry
Webinars
image
Clean Air Act Policy Change: How the End...
On Demand Webinars
Sponsored By Gensuite
Sponsored By Environmental Leader
FEATURED SUPPLIERS
Digital Lumens
Anguil Environmental Systems
VelocityEHS
UL EHS Sustainability
Sphera Solutions
Environmental Leader
Covanta Environmental Solutions
Schneider Electric Energy & Sustainability
View All Suppliers >
White Papers
Oxygen Sensor Types
Sponsored By:
Alpha Omega Instruments
Four Critical Factors for Selecting the Right ECSQ Software
Sponsored By:
Cority Software
Emerging Technologies in Learning
Sponsored By:
UL EHS Sustainability
Embrace Big Data
Sponsored By:
UL EHS Sustainability
Six Steps to Navigating EHS Compliance
Sponsored By:
UL EHS Sustainability
Environmental Leader Product and Project Awards 2016
Sponsored By:
Environmental Leader
Environmental Leader Product and Project Awards 2017
Sponsored By:
Environmental Leader
EHS Special Report
Sponsored By:
Environmental Leader
Environmental Leader Product Project Awards 2018
Sponsored By:
Environmental Leader
Zero Waste To Landfill
Sponsored By:
Covanta Environmental Solutions
View All White Papers >
UPCOMING WEBINARS
ON DEMAND WEBINARS
Clean Air Act Policy Change: How the End of the ‘Once In, Always In’ Policy Could Impact Major Source Emitters
Strategic Waste Mgmt. planning under the EPA’S new regulations
A New Era for CERCLA? A Review of the Superfund Task Force’s Recommendations
The Future of Environmental Performance: Innovations, Strategies and Business Cases Across Industries
Environmental Metrics: A New Way to Drive Enterprise Value
See More Webinars >
FOLLOW US social-footer-twittersocial-footer-linkedinsocial-footer-facebooksocial-footer-googlesocial-footer-youtubesocial-footer-rss
PRIVACY POLICY | ABOUT US | SEND A STORY | ADVERTISE
© Copyright 2018 Environmental Leader ® is a registered trademark of Business Sector Media LLC.
Translate »
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment