Business can create jobs and secure livelihoods, provide products and services, support community development and provide tax revenue for the state to invest in the well-being of its people.
Yet, without a sound commitment to human rights and implementation through due diligence, jobs can be precarious with poverty wages, indigenous peoples can be dispossessed of their ancestral lands and individuals can be subjected to modern day slavery, amongst a range of other potential impacts.
Preventing adverse impacts on workers, communities and consumers is one of the most pressing challenges almost every company faces in today’s globalised marketplace.
The competitive nature of the market is a powerful driver for change and represents an untapped lever to confront this challenge. The Corporate Human Rights Benchmark seeks to answer this call.
The Benchmark provides a comparative snapshot year-on-year of the largest companies on the planet, looking at the policies, processes, and practices they have in place to systematise their human rights approach and how they respond to serious allegations. This is a public good for all stakeholders.
The ultimate aim of the Benchmark will be achieved incrementally by adding new industries and companies over time.
In seeking to tap into the competitive nature of the market, the CHRB has several objectives and expected impacts over the long-term, as subsequent iterations of the benchmark are released and able to point to progress over time.