Professor and Associate Dean at Copenhagen Business School I focused on ESG and corporate sustainability
80% of companies fail on human right due diligence, according to the new Social Benchmark study (n=2,000) by the World Benchmarking Alliance. Interesting fact: companies from countries where human rights regulations are already in place score 60% higher (on average) in the benchmark. It shows again and again how important legislation like the #CSDDD is to effectively protect human rights - despite all the unnecessary complaints around 'too much bureaucracy' and anti-competitiveness... The study also shows that engagement with affected stakeholders improves human rights practices, yet only 9% of companies communicate such engagement (despite the UNGPs and OECD Guidelines emphasising this). == Full study: https://lnkd.in/dCnW4MVQ #humanrights, #sustainability, #esg
Does anyone know how internally consistent the data is? I read that data assessment has been staggered (2021 to 2023), I also cannot see which data sources were exactly used for which corporation and when. For further use of the data, it would be highly important to know whether it is truly comparable after all. Since so many things happened at least in Europe regarding SDD in the past 3 years, I would at least expect a little time effect which would then render the outcomes a little different. Further, I wonder whether there might be a Covid Effect between the companies assessed in 2021 and the rest, at least when it comes to engagement activities.
So maybe its time to realise, maybe even understand that the original idea of what’s known as “Sustainability” has nothing to do with the English verb: To Sustain, while the two Colombian human rights and environmental actists where to Colombian women experiencing oppression, tyranny and discrimination when opposing the UN in 1958. Their “fight” intended to achieve freedom, equality, justice, education and social security in a democratic society and nation. In 1962 this became a supported political agenda that over 60 nations supported, especially the five Scandinavian nations and many European countries plus many around the world. It became a growing group within UN and an agreement made in 1965 should establish a proactive politics and approach To Prevent and To Avoid Corruption and human exploitation in addition to nature and natural resources for corporations to work with human and natural resources without exploitation. This meant safety measures for workers, fair salaries and responsible use of all resources, they where approached by organisations who now had breached all boundaries for decades and now wanted to first “sustain themselves and the situation” before implementing new measures and regulations to follow.
Thanks for highlighting this Andreas Rasche 🙌 having assisted app. 100 companies implement sustainability due diligence (Human right / Environmental / Economic DD) in alignment with the UNGPs/OECD, it strikes us in GLOBAL CSR how much companies benefit from the set structure, when meeting reporting and value chain requirements. Please reach out if you need some good examples ☺️
Karoline Hejberg Pedersen, Sine Jakobsen interessant for jer?
We need to continue supporting companies in implementing the CSDDD. There are many themes, and it must be a collective effort across the entire value chain.
Thanks for providing that information and your insights, Andreas!
Clinical Professor at NYU Stern School of Business, lots of other hats, even more opinions. Author of Higher Ground: How Business Can Do the Right Thing in a Turbulent World, Harvard Business Review Press, February 2024.
2dGenuinely surprised that 20% are perceived to be doing this properly, my gut says much lower