Index will rank companies on human rights in effort to drive better performance
A group of investors, an NGO, a think-tank and an investor research agency, have joined forces to launch the first free and public wide-scale project to rank companies on their human rights performance.
The Corporate Human Rights Benchmark (CHRB) will build on a competitive approach to drive better human rights performance among corporations. The initiative will initially evaluate and rank 500 of the largest global companies from the agriculture, ICT, apparel and extractives industries. The four sectors were selected based on the severity of human rights impacts prevalent in the sector, the extent of previous work on human rights in the sector and global economic influence by size, among other criteria.
While still in its initial stages, the CHRB has already received support in the form of financial pledges. The UK’s Department for Business, Innovation and Skills is pledging government support for the benchmark, including providing £80,000 start-up funding. The CHRB’s first free and public ranking is currently timetabled for 2016 after a pilot in 2015.
The organisers of the long-term project include Aviva Investors, the Business and Human Rights Resource Center, the Institute for Human Rights and Business, VBDO, a sustainable investment forum for socially responsible investors in the Netherlands, as...