Nordic companies welcome future law on human rights
All too often, business activities have harmful impacts on vulnerable people, communities, and the environment, with few consequences for those responsible.
In 2021, twelve members of the Nordic Business Network for Human Rights, facilitated by the Institute, released a statement in favour of making corporate respect for human rights a legal requirement.
We see human rights due diligence as the key to future-proofing business activity so that companies can address impacts on people across the planet rapidly and proactively as they emerge. It really allows companies to think ahead and to engage in prevention and mitigation, rather than waiting for the problems to occur
Mandating human rights due diligence
Existing measures to mitigate and prevent negative human rights impacts related to business have, thus far, largely been voluntary. In 2020, a study by the Institute revealed that none of the 20 largest Danish companies demonstrate full alignment with corporate responsibility to respect human rights.
Mandatory human rights due diligence would enable victims of human rights abuses to seek justice and remedy by holding businesses accountable for their human rights abuses.
The Nordic Business Network of Human Rights consists of 12 Nordic companies; Arla, BioMar, Danfoss, Inter IKEA Group, LEGO Group, Lundbeck, Neste, Norsk Hydro, Novo Nordisk, Statkraft, Vestas Wind Systems and Yara.