After all, it comes down to rules to inject change from shareholder value to shared value to balance attention for the three pillars of economic growth, environmental protection and social inclusion.
The regulatory push in many countries has caught the attention of the legal & compliance function, and the topic is higher on the agenda of the board. The board desires to understand the opportunities to do better in the spirit of protecting the fundamental human rights and working conditions in the chain of a large organisation.
There is not necessarily a one-size-fits-all approach as it depends on the maturity of the organisation, industry/sector - the shift needs to happen to well define the following:
- Vision as it will embed its societal purpose;
- The strategy to give shape and direction;
- Partnership to mobilise a wide range of internal and external resources;
- Measure it; when you measure it, you can improve it, and finally.
- Communicate internally (engagement and demand participation) and externally (demonstrates transparency, commitment and compliance).
I believe this generation could do much better to protect fundamental human rights and workers' conditions for people and the planet.
It comes down to how and, therefore, the two links to read further.
a duty to carry out due diligence to identify the actual or potential negative impact on fundamental human rights and working conditions in the supply chain and to act accordingly