In 2016, Norges Bank Investment Management published an expectation document towards companies on human rights. Our expectations are aligned with the UN Guiding Principles on Business and Human Rights (UNGPs). As part of our work on human rights we hosted a workshop in London on the UNGPs in December 2016.
The objective of the workshop was to discuss the key concepts of the UNGPs and their implications for companies’ human rights risk management and reporting. Representatives from ten investee companies in the apparel and footwear, and food and beverage sectors participated, along with representatives from Norges Bank Investment Management. Shift, a leading centre of expertise on the UNGPs, facilitated the workshop.
The workshop consisted of three sessions and a lunch presentation. Shift has made a report, available on their web pages, summarising the workshop discussions. The first session introduced the UNGPs, while sessions two and three focused on the identification, prioritisation and mitigation of human rights risks. The participants shared common challenges, as well as lessons learned, in their efforts to address human rights risks. There was a general agreement on the need for better metrics and that investors have a role to play in promoting business and human rights. The lunch presentation focused on company experiences in applying the UNGP reporting framework.