HUMAN RIGHTS STANDARDS

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HUMAN RIGHTS STANDARDS

When speaking about business and human rights, it refers to all types of businesses and not just the larger businesses.

  1. Equator Principle

There are banks which are adhere to the equator principles. Standard Chartered Bank has said that after consultations, they will not be funding any coal development projects globally.

2. Industry Standards 

There are banks which have set minimum standards which they will have to adhere to in conducting their business.

3. International Standards 

This includes the Africa Mining Vision is one of the international standards on mining. The United Nations Economic Commission for Africa describes the Africa Mining Vision as “a pathway, formulated by African nations themselves, that puts the continent’s long term and broad development objectives at the heart of all policy making concerned with mineral extraction.”

4. The United Nations Standards on People and Human Rights 

Governments have the obligations and businesses have responsibilities. Human Rights due diligence is required in the extractives sector. This is a measure of reasonableness.

In summary, the following guiding principles can be useful for businesses:

a) Do no harm

b) If you do any harm, provide adequate compensation

c) Make sure people can access these rights.

 

 

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Editor-in-Chief

Geoffrey Kerosi is a prolific economics writer and an avid reader in economics, finance, business, politics and technology. He holds bachelors' Degree in Economics and Statistics from Kenyatta University. He has over 4 years of extensive experience working as a Policy researcher and Budget Analyst for Civil Society in Kenya. Contact: Email: geoffrey.kerosi@gmail.com Phone: +254 713 639 776 (Whats-app only) Twitter: @gkerosi

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