Over 20 leading NGOs working on corporate transparency have published a statement calling on EU policy-makers to define companies’ disclosure obligations on sustainability issues on the occasion of today’s high-level conference on the future of corporate reporting hosted by the European Commission in Brussels.
This executive summary of the report by Germanwatch and MISEREOR is all about energy – a sector that is inextricably linked to globalisation and is associated time and time again with human rights violations. The study explores the question of whether and to what extent German business and the German Government have implemented the demands of the UN Guiding Principles to date.
The 2015 G7 Summit at Schloss Elmau was ground-breaking in that G7 leaders for the first time discussed such supply chain responsibility. They pledged to promote “responsible supply chains”, and strongly supported the UN Guiding Principles on Business and Human Rights (UNGPs). The G7 leaders also stressed the need to increase transparency, the identification and prevention of human rights risks, and the strengthening of grievance mechanisms to promote better working conditions, and urged the private sector to implement human rights due diligence. These commitments were made under the leadership of Japan and Germany, as current and preceding G7 chair.